RBC Bearings Incorporated (NYSE:RBC) Receives $387.50 Average PT from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $387.50.

Several analysts recently weighed in on RBC shares. Truist Financial reiterated a "buy" rating and issued a $405.00 price target (up previously from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th.

Insider Activity at RBC Bearings

In related news, COO Daniel A. Bergeron sold 3,718 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $382.21, for a total value of $1,421,056.78. Following the sale, the chief operating officer now owns 111,134 shares in the company, valued at $42,476,526.14. This represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven H. Kaplan sold 400 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $381.30, for a total value of $152,520.00. Following the transaction, the director now directly owns 2,499 shares of the company's stock, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,400 shares of company stock worth $13,469,496 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RBC Bearings

A number of institutional investors have recently modified their holdings of the stock. NBC Securities Inc. purchased a new position in shares of RBC Bearings in the 1st quarter worth about $25,000. Advisors Asset Management Inc. bought a new stake in RBC Bearings during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in RBC Bearings by 109.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock worth $36,000 after buying an additional 59 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of RBC Bearings in the fourth quarter worth approximately $38,000. Finally, UMB Bank n.a. lifted its stake in shares of RBC Bearings by 80.8% in the first quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock worth $100,000 after buying an additional 139 shares in the last quarter.

RBC Bearings Trading Down 0.4%

RBC traded down $1.50 on Friday, hitting $375.35. 124,213 shares of the company were exchanged, compared to its average volume of 159,738. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The firm has a fifty day simple moving average of $346.43 and a two-hundred day simple moving average of $337.09. The stock has a market capitalization of $11.79 billion, a PE ratio of 51.56, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. RBC Bearings has a 12 month low of $260.53 and a 12 month high of $386.41.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. During the same quarter in the previous year, the company earned $2.47 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts expect that RBC Bearings will post 9.16 earnings per share for the current year.

RBC Bearings Company Profile

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.