RBC Bearings Incorporated (NYSE:RBC) Receives Average Rating of “Moderate Buy” from Analysts

RBC Bearings Incorporated (NYSE:RBC) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $275.86.

Several equities research analysts recently issued reports on RBC shares. Truist Financial lifted their price objective on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Citigroup raised their price target on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Monday, February 12th.

Insider Buying and Selling at RBC Bearings

In other news, COO Daniel A. Bergeron sold 15,000 shares of RBC Bearings stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total value of $4,008,300.00. Following the transaction, the chief operating officer now owns 121,935 shares in the company, valued at $32,583,470.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RBC. American Century Companies Inc. increased its holdings in RBC Bearings by 16.1% during the 1st quarter. American Century Companies Inc. now owns 2,786 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 387 shares during the period. HighTower Advisors LLC increased its holdings in RBC Bearings by 6.8% during the 1st quarter. HighTower Advisors LLC now owns 7,920 shares of the industrial products company’s stock valued at $1,545,000 after purchasing an additional 501 shares during the period. Private Advisor Group LLC increased its holdings in RBC Bearings by 12.8% during the 1st quarter. Private Advisor Group LLC now owns 3,303 shares of the industrial products company’s stock valued at $641,000 after purchasing an additional 375 shares during the period. MetLife Investment Management LLC increased its holdings in RBC Bearings by 53.4% during the 1st quarter. MetLife Investment Management LLC now owns 14,826 shares of the industrial products company’s stock valued at $2,874,000 after purchasing an additional 5,159 shares during the period. Finally, BlackRock Inc. increased its holdings in RBC Bearings by 1.6% during the 1st quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock valued at $415,937,000 after purchasing an additional 33,956 shares during the period.

RBC Bearings Price Performance

NYSE:RBC opened at $244.86 on Friday. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 40.95, a P/E/G ratio of 4.63 and a beta of 1.45. RBC Bearings has a 52-week low of $195.18 and a 52-week high of $288.16. The stock has a fifty day moving average of $265.11 and a 200 day moving average of $258.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). The business had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. On average, research analysts expect that RBC Bearings will post 8.1 EPS for the current fiscal year.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.