RBC Bearings (NYSE:RBC) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded RBC Bearings from "hold" to "buy," and the stock carries a consensus Buy rating with a mean price target of $574.67.
• Quarterly results beat estimates: RBC reported $3.04 EPS vs. $2.83 expected and $461.6M revenue (up 17% YoY), with analysts projecting about 9.16 EPS for the fiscal year.
• Stock snapshot and valuation: shares traded near $548.32, market cap ~$17.34B, P/E ~64.5, and a 52-week range of $297.28–$589.16.

RBC Bearings (NYSE:RBC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other equities analysts also recently issued reports on RBC. Deutsche Bank Aktiengesellschaft set a $527.00 price target on shares of RBC Bearings and gave the company a "buy" rating in a report on Wednesday, December 17th. Truist Financial raised their price objective on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a "buy" rating in a report on Friday, February 6th. Zacks Research upgraded shares of RBC Bearings from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 11th. Weiss Ratings restated a "buy (b-)" rating on shares of RBC Bearings in a research report on Monday, December 22nd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, RBC Bearings currently has an average rating of "Buy" and a consensus price target of $574.67.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $548.32 on Friday. The business's fifty day moving average price is $545.47 and its two-hundred day moving average price is $470.46. RBC Bearings has a fifty-two week low of $297.28 and a fifty-two week high of $589.16. The stock has a market capitalization of $17.34 billion, a price-to-earnings ratio of 64.51, a price-to-earnings-growth ratio of 2.64 and a beta of 1.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.21. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The company had revenue of $461.60 million during the quarter, compared to analysts' expectations of $460.69 million. During the same period last year, the business earned $2.34 earnings per share. The business's revenue was up 17.0% on a year-over-year basis. As a group, analysts predict that RBC Bearings will post 9.16 EPS for the current fiscal year.

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently modified their holdings of RBC. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings in the first quarter valued at approximately $26,000. AQR Capital Management LLC lifted its holdings in RBC Bearings by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company's stock worth $417,000 after buying an additional 282 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in RBC Bearings by 32.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company's stock worth $395,000 after buying an additional 303 shares in the last quarter. Jones Financial Companies Lllp boosted its position in RBC Bearings by 64.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company's stock valued at $357,000 after buying an additional 434 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of RBC Bearings by 2.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company's stock valued at $68,133,000 after buying an additional 4,253 shares during the period.

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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