RBC Bearings Incorporated (NYSE:RBC) Receives $324.67 Consensus PT from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $324.67.

Several analysts recently weighed in on the stock. KeyCorp raised shares of RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 target price on the stock in a report on Friday, November 22nd. William Blair reaffirmed an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial boosted their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Finally, Bank of America cut RBC Bearings from a "buy" rating to a "neutral" rating and raised their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st.

Insider Transactions at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 503 shares of RBC Bearings stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at approximately $93,227,932. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On RBC Bearings

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama grew its position in RBC Bearings by 6.7% in the 3rd quarter. Retirement Systems of Alabama now owns 38,245 shares of the industrial products company's stock valued at $11,450,000 after buying an additional 2,405 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of RBC Bearings by 6.2% in the third quarter. Synovus Financial Corp now owns 13,830 shares of the industrial products company's stock valued at $4,141,000 after acquiring an additional 805 shares in the last quarter. Tidal Investments LLC increased its stake in shares of RBC Bearings by 36.0% during the third quarter. Tidal Investments LLC now owns 3,016 shares of the industrial products company's stock worth $903,000 after acquiring an additional 798 shares during the period. SkyView Investment Advisors LLC raised its holdings in RBC Bearings by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company's stock worth $1,084,000 after purchasing an additional 58 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in RBC Bearings by 1.1% in the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock valued at $144,490,000 after purchasing an additional 5,040 shares during the period.

RBC Bearings Stock Down 0.9 %

RBC stock traded down $3.09 during midday trading on Friday, hitting $327.58. The company's stock had a trading volume of 150,671 shares, compared to its average volume of 141,435. The firm has a 50-day simple moving average of $309.56 and a 200-day simple moving average of $294.17. The firm has a market capitalization of $10.29 billion, a P/E ratio of 47.82, a PEG ratio of 4.50 and a beta of 1.55. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. RBC Bearings has a 52-week low of $240.36 and a 52-week high of $346.77.

RBC Bearings (NYSE:RBC - Get Free Report) last released its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to analysts' expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $2.07 earnings per share. As a group, equities analysts forecast that RBC Bearings will post 8.94 EPS for the current year.

RBC Bearings Company Profile

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.