RBC Bearings Incorporated (NYSE:RBC) Given Average Rating of "Buy" by Brokerages

Key Points

• Analyst consensus: Eight analysts rate RBC Bearings an average "Buy" (1 hold, 5 buy, 2 strong buy) with an average 12‑month price target of $574.67.
• Market positioning: Shares opened at $596.12, giving a market cap of $18.85 billion and a PE of 70.13, with a 52‑week range of $337.43 to $607.45 (trading near the high).
• Recent results: Q1 EPS of $3.04 beat estimates of $2.83 and revenue rose 17% YoY to $461.6M; analysts project ~11.43 EPS for the current year.

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) has been given an average recommendation of "Buy" by the eight analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $574.6667.

A number of analysts recently issued reports on RBC shares. Wall Street Zen cut RBC Bearings from a "buy" rating to a "hold" rating in a research report on Sunday, April 12th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $542.00 price objective on shares of RBC Bearings in a research report on Monday, February 9th. Zacks Research raised RBC Bearings from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 11th. KeyCorp increased their price objective on RBC Bearings from $595.00 to $680.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Finally, Truist Financial raised RBC Bearings to a "strong-buy" rating in a research report on Friday.

RBC Bearings Stock Up 0.1%

Shares of NYSE RBC opened at $596.12 on Monday. The stock has a market cap of $18.85 billion, a PE ratio of 70.13, a price-to-earnings-growth ratio of 2.87 and a beta of 1.47. 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 has a 52-week low of $337.43 and a 52-week high of $607.45. The business has a 50-day moving average price of $566.84 and a 200 day moving average price of $499.41.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.21. The firm had revenue of $461.60 million during the quarter, compared to analysts' expectations of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The business's revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS. Equities research analysts forecast that RBC Bearings will post 11.43 earnings per share for the current year.

Institutional Trading of RBC Bearings

Hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. lifted its position in RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company's stock worth $29,000 after acquiring an additional 33 shares during the period. Millstone Evans Group LLC lifted its position 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 acquiring an additional 24 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in RBC Bearings during the 4th quarter worth approximately $35,000. Advisors Asset Management Inc. acquired a new stake in RBC Bearings during the 1st quarter worth approximately $26,000. Finally, Larson Financial Group LLC raised its stake in shares of RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company's stock worth $32,000 after buying an additional 49 shares in the last quarter.

RBC Bearings Company Profile

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.

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