Brokerages Set RBC Bearings Incorporated (NYSE:RBC) Target Price at $324.67

Shares of RBC Bearings Incorporated (NYSE:RBC) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $324.67.

RBC has been the topic of a number of recent research reports. Truist Financial raised their target price on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research note on Friday, November 22nd. Bank of America lowered shares of 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. Finally, William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th.

RBC Bearings Price Performance

RBC opened at $306.28 on Friday. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $312.86 and its 200 day moving average price is $294.93. RBC Bearings has a fifty-two week low of $240.36 and a fifty-two week high of $346.77. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 44.71, a price-to-earnings-growth ratio of 4.50 and a beta of 1.55.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the previous year, the company posted $2.07 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that RBC Bearings will post 8.94 earnings per share for the current year.

Institutional Trading of RBC Bearings

Hedge funds and other institutional investors have recently made changes to their positions in the business. UMB Bank n.a. increased its holdings in shares of 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 buying an additional 75 shares in the last quarter. DT Investment Partners LLC acquired a new position in shares of RBC Bearings in the 2nd quarter worth $35,000. Canada Pension Plan Investment Board acquired a new stake in shares of RBC Bearings during the second quarter worth $54,000. Strategic Financial Concepts LLC purchased a new stake in shares of RBC Bearings during the second quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of RBC Bearings by 80.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 129 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.