RBC Bearings Incorporated (NYSE:RBC) Given Consensus Recommendation of “Moderate Buy” by Analysts

RBC Bearings Incorporated (NYSE:RBC) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $584.00.

RBC has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Weiss Ratings upgraded shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 15th. Truist Financial reaffirmed a “buy” rating and issued a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd.

Insider Activity

In related news, Director Dolores J. Ennico sold 600 shares of RBC Bearings stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total value of $381,666.00. Following the completion of the sale, the director directly owned 7,254 shares in the company, valued at approximately $4,614,341.94. This trade represents a 7.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Stewart sold 600 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the transaction, the director directly owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. This trade represents a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,425 shares of company stock valued at $885,400 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of RBC Bearings

Large investors have recently made changes to their positions in the stock. Comerica Bank increased its position in RBC Bearings by 19.5% during the fourth quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock valued at $40,486,000 after acquiring an additional 14,747 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in RBC Bearings by 263.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock worth $1,788,000 after purchasing an additional 2,709 shares during the last quarter. Fifth Third Bancorp boosted its position in RBC Bearings by 12,957.3% in the first quarter. Fifth Third Bancorp now owns 74,949 shares of the industrial products company’s stock worth $40,707,000 after purchasing an additional 74,375 shares during the last quarter. M&T Bank Corp grew its stake in shares of RBC Bearings by 372.6% during the 4th quarter. M&T Bank Corp now owns 23,640 shares of the industrial products company’s stock valued at $10,601,000 after purchasing an additional 18,638 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of RBC Bearings by 9.6% during the 4th quarter. Bessemer Group Inc. now owns 83,865 shares of the industrial products company’s stock valued at $37,607,000 after purchasing an additional 7,315 shares during the period.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $594.57 on Friday. RBC Bearings has a 1 year low of $364.50 and a 1 year high of $667.69. The firm’s 50-day moving average is $597.34 and its 200 day moving average is $567.29. The stock has a market cap of $18.81 billion, a price-to-earnings ratio of 65.41, a PEG ratio of 3.39 and a beta of 1.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The business had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. RBC Bearings’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business earned $2.83 EPS. Sell-side analysts anticipate that RBC Bearings will post 13.66 EPS for the current fiscal year.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.