RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• RBC Bearings has received a consensus rating of “Moderate Buy” from analysts, with six buy ratings and three hold ratings, and an average 1-year target price of $429.00.
• Insiders have recently made notable stock sales, including COO Daniel A. Bergeron selling 48,743 shares for over $19.6 million, reducing his ownership by 30.49%.
• Institutional investors have shown significant interest, with Artisan Partners acquiring a new position worth $157.2 million in the 2nd quarter.

Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $429.00.

A number of analysts have weighed in on RBC shares. Weiss Ratings reissued a "buy (b)" rating on shares of RBC Bearings in a report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on shares of RBC Bearings and gave the stock a "buy" rating in a report on Wednesday, October 8th. Zacks Research cut shares of RBC Bearings from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, Truist Financial raised their price objective on shares of RBC Bearings from $431.00 to $455.00 and gave the stock a "buy" rating in a report on Monday, August 4th.

Insiders Place Their Bets

In other news, COO Daniel A. Bergeron sold 48,743 shares of RBC Bearings stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $402.75, for a total value of $19,631,243.25. Following the transaction, the chief operating officer directly owned 111,134 shares of the company's stock, valued at $44,759,218.50. The trade was a 30.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John J. Feeney sold 105 shares of RBC Bearings stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the transaction, the vice president directly owned 2,666 shares in the company, valued at $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On RBC Bearings

A number of institutional investors have recently modified their holdings of RBC. Artisan Partners Limited Partnership acquired a new position in shares of RBC Bearings in the 2nd quarter valued at $157,190,000. Norges Bank purchased a new position in RBC Bearings in the 2nd quarter valued at $137,078,000. Frontier Capital Management Co. LLC purchased a new position in RBC Bearings in the 2nd quarter valued at $39,818,000. Nuveen LLC purchased a new position in RBC Bearings in the 1st quarter valued at $20,847,000. Finally, Greenhouse Funds LLLP grew its position in RBC Bearings by 28.0% in the 2nd quarter. Greenhouse Funds LLLP now owns 227,434 shares of the industrial products company's stock valued at $87,517,000 after buying an additional 49,773 shares during the last quarter.

RBC Bearings Stock Down 3.0%

Shares of NYSE:RBC opened at $372.58 on Thursday. The firm's 50 day moving average price is $387.19 and its 200 day moving average price is $370.71. The stock has a market cap of $11.76 billion, a price-to-earnings ratio of 46.92, a price-to-earnings-growth ratio of 2.96 and a beta of 1.71. RBC Bearings has a fifty-two week low of $272.50 and a fifty-two week high of $416.33. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. The firm had revenue of $156.21 million for the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. As a group, equities research analysts predict that RBC Bearings will post 9.16 earnings per share for the current fiscal 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.

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