RBC Bearings (NYSE:RBC) Price Target Raised to $680.00

RBC Bearings (NYSE:RBC) had its target price increased by KeyCorp from $595.00 to $680.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a research report on Monday, February 9th. Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Buy” and a consensus price target of $574.67.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $570.04 on Monday. The business’s fifty day simple moving average is $515.07 and its 200 day simple moving average is $446.71. The firm has a market capitalization of $18.02 billion, a P/E ratio of 67.06, a price-to-earnings-growth ratio of 3.20 and a beta of 1.47. RBC Bearings has a 12 month low of $297.28 and a 12 month high of $589.16. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The firm had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. As a group, analysts anticipate that RBC Bearings will post 9.16 EPS for the current year.

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently made changes to their positions in RBC. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings during the 1st quarter valued at $26,000. SBI Securities Co. Ltd. increased its position in shares of RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after buying an additional 33 shares during the period. Larson Financial Group LLC increased its position in shares of RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after buying an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of RBC Bearings in the fourth quarter worth about $35,000. Finally, Root Financial Partners LLC bought a new position in shares of RBC Bearings in the third quarter valued at approximately $36,000.

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.