Analysts Set RBC Bearings Incorporated (NYSE:RBC) Target Price at $421.17

Key Points

• RBC Bearings Incorporated has received a consensus rating of "Moderate Buy" from seven brokerages, with two analysts recommending a hold and five a buy.
• Recent price targets for RBC Bearings stock have been raised, with Deutsche Bank setting a target of $480.00 and KeyCorp moving their target to $450.00.
• Insider trading activity includes significant sales, with CEO Michael J. Hartnett selling 26,725 shares for over $10 million, indicating a 7.78% decrease in their ownership.

Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $421.17.

RBC has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of RBC Bearings in a research note on Wednesday, July 16th. They set a "buy" rating and a $480.00 price objective on the stock. Truist Financial lifted their price objective on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. KeyCorp lifted their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 target price (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th.

RBC Bearings Stock Performance

RBC stock traded up $11.37 during mid-day trading on Friday, reaching $398.71. The company had a trading volume of 265,532 shares, compared to its average volume of 164,748. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $12.58 billion, a P/E ratio of 50.22, a P/E/G ratio of 3.28 and a beta of 1.71. RBC Bearings has a one year low of $260.53 and a one year high of $405.18. The stock's 50-day simple moving average is $380.32 and its two-hundred day simple moving average is $354.95.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.74 by $0.10. The company had revenue of $436.00 million for the quarter, compared to analysts' expectations of $432.63 million. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $2.54 earnings per share. Research analysts anticipate that RBC Bearings will post 9.16 EPS for the current year.

Insider Transactions at RBC Bearings

In related news, Director Michael H. Ambrose sold 595 shares of RBC Bearings stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total value of $218,555.40. Following the transaction, the director owned 6,985 shares of the company's stock, valued at approximately $2,565,730.20. This trade represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Daniel A. Bergeron sold 31,282 shares of RBC Bearings stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $380.28, for a total value of $11,895,918.96. Following the completion of the transaction, the chief operating officer directly owned 111,134 shares in the company, valued at $42,262,037.52. This represents a 21.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,973 shares of company stock valued at $29,186,872 in the last three months. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RBC Bearings

A number of institutional investors have recently bought and sold shares of RBC. Park Avenue Securities LLC grew its stake in RBC Bearings by 50.8% during the 1st quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company's stock valued at $852,000 after acquiring an additional 892 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in RBC Bearings during the 1st quarter valued at about $253,000. Deutsche Bank AG grew its stake in RBC Bearings by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock valued at $529,000 after acquiring an additional 49 shares in the last quarter. New York State Teachers Retirement System grew its stake in RBC Bearings by 21.3% during the 1st quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company's stock valued at $1,834,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Personal CFO Solutions LLC purchased a new position in RBC Bearings during the 1st quarter valued at about $296,000.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.