RBC Bearings Incorporated (NYSE:RBC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• RBC Bearings has a “Moderate Buy” consensus rating from nine analysts, with seven buy ratings and two holds. The average 12-month price target is $623, with recent targets ranging from $640 to $686.
• The company reported quarterly earnings of $3.88 per share, exceeding the $3.42 consensus estimate, while revenue of $519.5 million rose 19.2% year over year and also surpassed expectations.
• RBC shares opened at $551.98, below their 50-day and 200-day moving averages. Insiders sold 1,425 shares worth approximately $885,400 over the past 90 days, while institutional investors made several small purchases.

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $623.00.

Several brokerages have recently weighed in on RBC. Wall Street Zen raised shares of RBC Bearings from a "hold" rating to a "buy" rating in a research report on Saturday. Morgan Stanley increased their target price on RBC Bearings from $600.00 to $640.00 and gave the company an "overweight" rating in a research report on Tuesday, May 19th. Raymond James Financial raised RBC Bearings from a "market perform" rating to an "outperform" rating and set a $645.00 price target for the company in a research report on Monday, August 3rd. Zacks Research downgraded RBC Bearings from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Finally, 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.

Insiders Place Their Bets

In related news, Director Edward Stewart sold 600 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the transaction, the director directly owned 21,337 shares of the company's stock, valued at $12,649,213.71. This trade represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dolores J. Ennico sold 600 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the transaction, the director directly owned 7,254 shares of the company's stock, valued at $4,614,341.94. The trade was a 7.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,425 shares of company stock valued at $885,400. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new position in shares of RBC Bearings in the 1st quarter valued at $26,000. Western Wealth Management LLC purchased a new stake in RBC Bearings during the 1st quarter valued at about $27,000. SBI Securities Co. Ltd. grew its stake 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 valued at $29,000 after purchasing an additional 33 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 49 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company's stock worth $37,000 after purchasing an additional 53 shares during the last quarter.

RBC Bearings Price Performance

Shares of RBC stock opened at $551.98 on Wednesday. The company has a market capitalization of $17.48 billion, a P/E ratio of 54.54, a P/E/G ratio of 3.01 and a beta of 1.40. The company's 50-day simple moving average is $596.34 and its two-hundred day simple moving average is $574.40. RBC Bearings has a one year low of $364.50 and a one year high of $667.69. 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 (NYSE:RBC - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.42 by $0.46. The firm had revenue of $519.50 million during the quarter, compared to the consensus estimate of $508.92 million. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The company's revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.84 earnings per share. As a group, equities analysts anticipate that RBC Bearings will post 14.12 EPS for the current year.

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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