RBC Bearings (NYSE:RBC) Price Target Raised to $330.00

RBC Bearings (NYSE:RBC) had its target price lifted by investment analysts at Morgan Stanley from $310.00 to $330.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target suggests a potential upside of 12.22% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of RBC Bearings from $245.00 to $276.00 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup raised their price objective on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, Truist Financial raised their price objective on shares of RBC Bearings from $309.00 to $328.00 and gave the stock a “buy” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.57.

RBC Bearings Stock Down 0.4 %

Shares of RBC Bearings stock opened at $294.06 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.28 and a quick ratio of 1.12. The company has a 50-day moving average of $262.17 and a 200 day moving average of $263.85. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 3.61 and a beta of 1.46. RBC Bearings has a 1 year low of $195.18 and a 1 year high of $298.49.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, May 17th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.22. The business had revenue of $413.70 million during the quarter, compared to analyst estimates of $414.21 million. RBC Bearings had a net margin of 13.45% and a return on equity of 9.81%. RBC Bearings’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $2.06 EPS. As a group, sell-side analysts anticipate that RBC Bearings will post 8.95 earnings per share for the current fiscal year.

Institutional Trading of RBC Bearings

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in RBC Bearings by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock worth $738,433,000 after acquiring an additional 19,574 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in RBC Bearings by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock worth $566,549,000 after purchasing an additional 20,491 shares in the last quarter. Wasatch Advisors LP raised its holdings in RBC Bearings by 1.6% in the first quarter. Wasatch Advisors LP now owns 1,787,938 shares of the industrial products company’s stock worth $483,369,000 after purchasing an additional 28,749 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in RBC Bearings by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock worth $166,926,000 after purchasing an additional 99,066 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its holdings in RBC Bearings by 1.2% in the first quarter. Conestoga Capital Advisors LLC now owns 703,997 shares of the industrial products company’s stock worth $190,326,000 after purchasing an additional 8,450 shares in the last quarter.

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.