RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Rating of “Buy” from Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have earned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong 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 $574.6667.

Several equities analysts have recently weighed in on RBC shares. Truist Financial increased their price target on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. KeyCorp increased their target price on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th.

Hedge Funds Weigh In On RBC Bearings

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in RBC Bearings during the first quarter valued at approximately $26,000. AQR Capital Management LLC boosted its stake in shares of RBC Bearings by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 282 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of RBC Bearings by 32.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 303 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of RBC Bearings by 64.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of RBC Bearings by 2.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock valued at $68,133,000 after acquiring an additional 4,253 shares during the period.

RBC Bearings Stock Down 1.2%

RBC opened at $541.01 on Friday. The stock has a market capitalization of $17.11 billion, a price-to-earnings ratio of 63.65, a PEG ratio of 3.07 and a beta of 1.47. The firm has a 50 day moving average price of $535.04 and a 200-day moving average price of $458.20. RBC Bearings has a twelve month low of $297.28 and a twelve month high of $589.16. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last issued its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.21. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The company had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $460.69 million. During the same quarter last year, the company posted $2.34 earnings per share. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that RBC Bearings will post 9.16 earnings per share for the current 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.