RBC Bearings (NYSE:RBC) Stock Passes Above 200-Day Moving Average - Here's Why

RBC Bearings Incorporated (NYSE:RBC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $296.29 and traded as high as $299.70. RBC Bearings shares last traded at $299.14, with a volume of 106,959 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on RBC shares. William Blair reissued an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Bank of America lowered RBC Bearings from a "buy" rating to a "neutral" rating and raised their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. KeyCorp upgraded shares of RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 price target on the stock in a research note on Friday, November 22nd. Finally, Truist Financial upped their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $324.67.

RBC Bearings Stock Performance

The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 4.50 and a beta of 1.55. The stock's 50 day moving average is $315.48 and its two-hundred day moving average is $296.32.

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

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently bought and sold shares of RBC. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of RBC Bearings by 1.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company's stock valued at $523,769,000 after acquiring an additional 22,470 shares in the last quarter. State Street Corp raised its stake in shares of RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company's stock worth $253,028,000 after buying an additional 19,962 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of RBC Bearings by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company's stock valued at $221,793,000 after buying an additional 12,375 shares during the period. Geneva Capital Management LLC boosted its stake in shares of RBC Bearings by 1.4% in the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company's stock valued at $176,829,000 after buying an additional 8,012 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company's stock worth $144,490,000 after acquiring an additional 5,040 shares during the period.

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.