RBC Bearings Incorporated (NYSE:RBC) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on RBC Bearings, with seven buy ratings, one strong buy, and two holds. The average 12-month price target is $615.44, well above the reported share price of $470.84.
• RBC Bearings exceeded quarterly expectations, reporting adjusted earnings of $3.88 per share versus the $3.42 consensus estimate and revenue of $519.5 million. Revenue increased 19.2% year over year.
• The stock has declined 0.2% and is trading below both its 50-day and 200-day moving averages, while its 52-week range is $401.90 to $667.69 and its market capitalization is approximately $14.91 billion.

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $615.44.

A number of analysts have recently commented on RBC shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $686.00 price objective 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 research report on Monday, September 14th. Weiss Ratings downgraded RBC Bearings from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 27th. Finally, Raymond James Financial upgraded RBC Bearings from a "market perform" rating to an "outperform" rating and set a $645.00 target price for the company in a report on Monday, August 3rd.

RBC Bearings Trading Down 0.2%

Shares of RBC stock opened at $470.84 on Monday. The firm's 50-day simple moving average is $500.26 and its 200-day simple moving average is $559.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 0.98. RBC Bearings has a 1-year low of $401.90 and a 1-year high of $667.69. The firm has a market cap of $14.91 billion, a P/E ratio of 46.53, a PEG ratio of 2.54 and a beta of 1.38.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management lifted its stake in shares of RBC Bearings by 2.9% during the first quarter. Ritholtz Wealth Management now owns 594 shares of the industrial products company's stock valued at $323,000 after acquiring an additional 17 shares during the period. Assetmark Inc. raised its holdings in RBC Bearings by 3.5% during the 1st quarter. Assetmark Inc. now owns 557 shares of the industrial products company's stock worth $303,000 after purchasing an additional 19 shares during the last quarter. Millstone Evans Group LLC raised its holdings in RBC Bearings by 45.3% during the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company's stock worth $42,000 after purchasing an additional 24 shares during the last quarter. Net Worth Advisory Group lifted its position in RBC Bearings by 4.5% during the 3rd quarter. Net Worth Advisory Group now owns 552 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 24 shares during the period. Finally, Wedmont Private Capital lifted its position in RBC Bearings by 5.0% during the 2nd quarter. Wedmont Private Capital now owns 667 shares of the industrial products company's stock valued at $397,000 after purchasing an additional 32 shares during the period.

RBC Bearings Company Profile

RBC Bearings Incorporated is a manufacturer of highly engineered bearing and motion-control products. Founded in 1919 and headquartered in Oxford, Connecticut, the company serves original equipment manufacturers and aftermarket customers that require components designed for demanding operating environments.

Its product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, thrust bearings, and related precision components. These products are used in applications involving load support, friction reduction, positioning, and motion control across aerospace and defense, industrial equipment, construction, transportation, energy, and other specialized markets.

RBC Bearings sells its products through a combination of direct sales, distributors, and customer-specific manufacturing programs.

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