RBC Bearings Incorporated (NYSE:RBC) Receives Average Recommendation of "Moderate Buy" from Brokerages

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight analysts that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $348.50.

A number of research analysts recently weighed in on RBC shares. Truist Financial upped their price objective on RBC Bearings from $351.00 to $410.00 and gave the stock a "buy" rating in a report on Monday. KeyCorp increased their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday. William Blair reissued an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and increased their target price for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, Morgan Stanley boosted their price target on RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday.

Insider Transactions at RBC Bearings

In related news, Director Michael H. Ambrose sold 400 shares of RBC Bearings stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the completion of the sale, the director now owns 6,728 shares in the company, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On RBC Bearings

Several hedge funds have recently modified their holdings of RBC. UMB Bank n.a. increased its stake in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. R Squared Ltd purchased a new stake in RBC Bearings in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC acquired a new position in shares of RBC Bearings during the 4th quarter valued at about $38,000. Harbor Investment Advisory LLC purchased a new position in shares of RBC Bearings during the 4th quarter worth about $82,000. Finally, Blue Trust Inc. boosted its position in shares of RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company's stock worth $83,000 after acquiring an additional 233 shares during the last quarter.

RBC Bearings Stock Performance

NYSE RBC traded down $4.72 on Monday, hitting $364.78. 141,302 shares of the company's stock were exchanged, compared to its average volume of 163,033. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 50.11, a P/E/G ratio of 4.81 and a beta of 1.58. The firm's 50-day moving average price is $319.15 and its two-hundred day moving average price is $303.26. RBC Bearings has a fifty-two week low of $240.36 and a fifty-two week high of $372.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems 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.