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

RBC Bearings Incorporated (NYSE:RBC) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $584.00.

Several research firms recently commented on RBC. KeyCorp raised their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Morgan Stanley raised their price objective on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th.

Institutional Investors Weigh In On RBC Bearings

A number of hedge funds have recently added to or reduced their stakes in RBC. Advisors Asset Management Inc. acquired a new stake in RBC Bearings in the first quarter valued at approximately $26,000. Western Wealth Management LLC acquired a new stake in RBC Bearings in the first quarter valued at approximately $27,000. SBI Securities Co. Ltd. grew its stake in RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 33 shares during the period. Larson Financial Group LLC grew its stake in RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 49 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in RBC Bearings in the fourth quarter valued at approximately $35,000.

RBC Bearings Trading Up 0.3%

NYSE RBC opened at $578.99 on Friday. The business has a 50 day simple moving average of $576.39 and a 200 day simple moving average of $522.37. RBC Bearings has a one year low of $355.47 and a one year high of $632.00. The stock has a market capitalization of $18.32 billion, a P/E ratio of 63.69, a P/E/G ratio of 3.32 and a beta of 1.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The business had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. During the same quarter last year, the firm posted $2.83 earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. Research analysts expect that RBC Bearings will post 13.64 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.