RBC Bearings Incorporated (NYSE:RBC) Given Consensus Rating of “Moderate Buy” by Analysts

RBC Bearings Incorporated (NYSE:RBC) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $584.00.

Several equities analysts have recently issued reports on RBC shares. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Truist Financial reiterated a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Morgan Stanley lifted their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Weiss Ratings downgraded RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday, June 6th.

RBC Bearings Stock Performance

Shares of RBC stock opened at $645.24 on Tuesday. RBC Bearings has a 12 month low of $364.50 and a 12 month high of $646.17. The stock has a market cap of $20.42 billion, a PE ratio of 70.98, a price-to-earnings-growth ratio of 3.69 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $594.29 and its 200-day moving average price is $542.27.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The firm had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. During the same quarter in the previous year, the business posted $2.83 EPS. The company’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities analysts expect that RBC Bearings will post 13.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Edward Stewart sold 600 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total transaction of $355,698.00. Following the transaction, the director directly owned 21,337 shares of the company’s stock, valued at $12,649,213.71. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in RBC Bearings by 23.4% during the first quarter. Pacer Advisors Inc. now owns 5,868 shares of the industrial products company’s stock valued at $3,187,000 after purchasing an additional 1,113 shares during the period. NewEdge Advisors LLC lifted its position in RBC Bearings by 101.9% during the first quarter. NewEdge Advisors LLC now owns 2,867 shares of the industrial products company’s stock valued at $1,557,000 after purchasing an additional 1,447 shares during the period. Caerus Investment Advisors LLC lifted its position in RBC Bearings by 6.3% during the first quarter. Caerus Investment Advisors LLC now owns 553 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 33 shares during the period. Argent Capital Management LLC increased its position in RBC Bearings by 29.6% during the first quarter. Argent Capital Management LLC now owns 5,921 shares of the industrial products company’s stock valued at $3,216,000 after acquiring an additional 1,353 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new stake in RBC Bearings during the first quarter valued at $27,000.

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.