RBC Bearings Incorporated (NYSE:RBC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $287.67.

Several research firms have recently issued reports on RBC. Raymond James began coverage on RBC Bearings in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial decreased their target price on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th.

Insider Buying and Selling at RBC Bearings

In related news, VP Richard J. Edwards sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the sale, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael J. Hartnett sold 3,000 shares of RBC Bearings stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the transaction, the chief executive officer now owns 294,120 shares of the company’s stock, valued at $83,597,727.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the transaction, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. The disclosure for this sale can be found here. Insiders have sold a total of 41,327 shares of company stock worth $11,900,641 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

Institutional investors and hedge funds have recently bought and sold shares of the stock. Centaurus Financial Inc. bought a new stake in RBC Bearings in the 2nd quarter valued at $231,000. Sanctuary Advisors LLC acquired a new stake in shares of RBC Bearings in the 2nd quarter valued at $1,096,000. Point72 Asset Management L.P. acquired a new stake in shares of RBC Bearings in the 2nd quarter valued at $3,137,000. NewEdge Advisors LLC boosted its stake in shares of RBC Bearings by 2,384.9% in the 2nd quarter. NewEdge Advisors LLC now owns 5,417 shares of the industrial products company’s stock valued at $1,461,000 after purchasing an additional 5,199 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of RBC Bearings in the 2nd quarter valued at $754,000.

RBC Bearings Stock Performance

RBC stock opened at $299.98 on Monday. The company has a current ratio of 3.01, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm has a market cap of $8.77 billion, a P/E ratio of 46.87, a P/E/G ratio of 3.65 and a beta of 1.51. RBC Bearings has a 12-month low of $214.14 and a 12-month high of $309.01. The stock’s 50 day simple moving average is $288.63 and its 200 day simple moving average is $277.09.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.33. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The business had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. During the same period in the prior year, the company posted $1.98 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts predict that RBC Bearings will post 8.95 EPS for the current year.

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.