RBC Bearings Incorporated (NYSE:RBC) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• RBC Bearings has a “Moderate Buy” consensus rating from 10 covering brokerages, with seven buys, two holds and one strong buy. The average 12-month price target is $615.44, above the reported $500 share price.
• The company’s latest quarterly results exceeded expectations, with earnings per share of $3.88 versus a $3.42 consensus estimate and revenue of $519.5 million, up 19.2% year over year.
• Institutional investor interest increased, with firms including Amundi, UBS Asset Management and Fifth Third Bancorp expanding their RBC Bearings holdings during the reported periods.

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) has been given an average rating of "Moderate Buy" by the ten brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $615.44.

Several equities research analysts recently commented on the company. Guggenheim assumed coverage on RBC Bearings in a research report on Monday, September 14th. They set a "buy" rating and a $600.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $686.00 target price on shares of RBC Bearings in a report on Tuesday, August 4th. Wall Street Zen cut RBC Bearings from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Royal Bank Of Canada set a $600.00 price target on RBC Bearings in a report on Monday, September 14th. Finally, Raymond James Financial raised shares of RBC Bearings from a "market perform" rating to an "outperform" rating and set a $645.00 price objective for the company in a research report on Monday, August 3rd.

Institutional Investors Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH acquired a new stake in shares of RBC Bearings in the 2nd quarter valued at about $6,493,000. Corient Private Wealth LP increased its position in RBC Bearings by 25.8% in the 2nd quarter. Corient Private Wealth LP now owns 11,106 shares of the industrial products company's stock valued at $7,153,000 after buying an additional 2,275 shares in the last quarter. Amundi raised its stake in RBC Bearings by 284.6% during the 2nd quarter. Amundi now owns 8,316 shares of the industrial products company's stock worth $5,356,000 after buying an additional 6,154 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in RBC Bearings by 40.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,430 shares of the industrial products company's stock worth $50,514,000 after buying an additional 22,721 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in RBC Bearings by 12,957.3% in the first quarter. Fifth Third Bancorp now owns 74,949 shares of the industrial products company's stock worth $40,707,000 after acquiring an additional 74,375 shares in the last quarter.

RBC Bearings Price Performance

RBC stock opened at $500.00 on Thursday. The company has a quick ratio of 0.98, a current ratio of 2.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 49.41, a PEG ratio of 2.71 and a beta of 1.39. The company's fifty day simple moving average is $522.70 and its 200 day simple moving average is $564.38. RBC Bearings has a 12-month low of $364.50 and a 12-month high of $667.69.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.42 by $0.46. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The firm had revenue of $519.50 million during the quarter, compared to the consensus estimate of $508.92 million. During the same period last year, the business posted $2.84 EPS. The business's revenue was up 19.2% compared to the same quarter last year. On average, analysts expect that RBC Bearings will post 14.03 earnings per share for the current year.

About RBC Bearings

RBC Bearings Incorporated designs and manufactures highly engineered bearings and related components for demanding aerospace, defense and industrial applications. Its products are used in systems that require precision, reliability and resistance to extreme operating conditions.

The company's product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, precision components and other motion-control products. These products support applications such as aircraft structures and flight controls, aircraft engines, landing systems, space systems, military equipment, construction machinery, energy equipment and other industrial systems.

Founded in 1919, RBC Bearings serves original equipment manufacturers and aftermarket customers through operations and sales channels in North America, Europe and Asia.

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