RBC Bearings Incorporated (NYSE:RBC) Receives $398.40 Consensus Price Target from Analysts

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $398.40.

Several brokerages have weighed in on RBC. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial boosted their price target on RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, The Goldman Sachs Group boosted their price target on RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a report on Tuesday.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded down $1.57 during trading on Tuesday, hitting $380.03. 177,056 shares of the company were exchanged, compared to its average volume of 161,105. The company has a quick ratio of 1.18, a current ratio of 3.26 and a debt-to-equity ratio of 0.30. RBC Bearings has a fifty-two week low of $260.53 and a fifty-two week high of $393.51. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 49.55, a P/E/G ratio of 3.95 and a beta of 1.65. The firm has a 50 day moving average price of $369.12 and a 200 day moving average price of $343.83.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.13. The company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. RBC Bearings's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. On average, equities analysts expect that RBC Bearings will post 9.16 earnings per share for the current fiscal year.

Insider Buying and Selling at RBC Bearings

In related news, COO Daniel A. Bergeron sold 31,282 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the completion of the sale, the chief operating officer directly owned 111,134 shares of the company's stock, valued at approximately $42,262,037.52. This represents a 21.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven H. Kaplan sold 400 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total transaction of $152,520.00. Following the sale, the director directly owned 2,499 shares of the company's stock, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,973 shares of company stock valued at $29,186,872 in the last quarter. Company insiders own 2.60% of the company's stock.

Institutional Trading of RBC Bearings

Institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new position in RBC Bearings in the 1st quarter worth $25,000. Advisors Asset Management Inc. acquired a new position in RBC Bearings in the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in RBC Bearings by 109.3% in the 1st 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 in the last quarter. Golden State Wealth Management LLC lifted its holdings in RBC Bearings by 107.1% in the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock worth $85,000 after buying an additional 136 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in RBC Bearings by 80.8% in the 1st 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.

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.