Analysts Set RBC Bearings Incorporated (NYSE:RBC) PT at $287.67

by · The Markets Daily

Shares of RBC Bearings Incorporated (NYSE:RBC – Get Free Report) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $287.67.

RBC has been the subject of a number of recent analyst reports. Raymond James began coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial lowered their target price on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th.

Read Our Latest Stock Analysis on RBC

RBC Bearings Price Performance

RBC stock opened at $299.87 on Monday. The company has a market capitalization of $8.77 billion, a P/E ratio of 46.85, a PEG ratio of 3.65 and a beta of 1.51. The company has a fifty day moving average price of $288.63 and a 200-day moving average price of $277.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01. RBC Bearings has a 52-week low of $214.14 and a 52-week high of $309.01.

RBC Bearings (NYSE:RBC – Get Free Report) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.33. The business had revenue of $406.30 million during the quarter, compared to analyst estimates of $416.65 million. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. RBC Bearings’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $1.98 EPS. As a group, equities analysts expect that RBC Bearings will post 8.95 EPS for the current year.

Insider Activity at RBC Bearings

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the sale, the vice president now directly owns 12,539 shares of the company’s stock, valued at $3,669,789.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Michael J. Hartnett sold 3,000 shares of RBC Bearings stock in a transaction on Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the sale, the chief executive officer now owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the sale, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The disclosure for this sale can be found here. Insiders have sold 41,327 shares of company stock worth $11,900,641 in the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

Institutional investors and hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. purchased a new position in shares of RBC Bearings during the fourth quarter valued at approximately $27,000. Principal Securities Inc. bought a new stake in shares of RBC Bearings in the 4th quarter worth $30,000. DT Investment Partners LLC bought a new stake in shares of RBC Bearings in the 2nd quarter worth $35,000. Opal Wealth Advisors LLC purchased a new position in RBC Bearings during the second quarter worth about $41,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in RBC Bearings by 570.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 137 shares in the last quarter.

RBC Bearings Company Profile

(Get Free Report

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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