Truist Financial Issues Positive Forecast for RBC Bearings (NYSE:RBC) Stock Price

RBC Bearings (NYSE:RBC - Get Free Report) had its price objective increased by stock analysts at Truist Financial from $347.00 to $351.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Truist Financial's price target would indicate a potential upside of 15.18% from the company's previous close.

RBC has been the subject of several other reports. KeyCorp upgraded RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 target price for the company in a research report on Friday, November 22nd. William Blair restated an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Bank of America cut 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 research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, RBC Bearings has an average rating of "Moderate Buy" and an average price target of $325.33.

RBC Bearings Stock Performance

Shares of NYSE:RBC traded up $6.79 during midday trading on Tuesday, reaching $304.75. 87,498 shares of the company traded hands, compared to its average volume of 97,112. The firm's fifty day moving average price is $317.24 and its two-hundred day moving average price is $297.85. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 44.49, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57. 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 12 month low of $240.36 and a 12 month high of $346.77.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly 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 firm had revenue of $397.90 million during the quarter, compared to analysts' expectations of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 earnings per share. On average, equities analysts expect that RBC Bearings will post 8.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Argent Capital Management LLC lifted its holdings in RBC Bearings by 33.0% in the 4th quarter. Argent Capital Management LLC now owns 4,521 shares of the industrial products company's stock worth $1,352,000 after buying an additional 1,123 shares during the period. Park Avenue Securities LLC boosted its position in shares of RBC Bearings by 33.6% during the fourth quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company's stock valued at $525,000 after purchasing an additional 441 shares in the last quarter. Oak Thistle LLC grew its stake in RBC Bearings by 21.9% in the fourth quarter. Oak Thistle LLC now owns 3,003 shares of the industrial products company's stock worth $898,000 after purchasing an additional 540 shares during the period. PFW Advisors LLC bought a new position in RBC Bearings in the fourth quarter worth $374,000. Finally, Douglas Lane & Associates LLC lifted its position in RBC Bearings by 17.0% during the fourth quarter. Douglas Lane & Associates LLC now owns 147,452 shares of the industrial products company's stock valued at $44,109,000 after buying an additional 21,379 shares during the period.

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.