RBC Bearings Incorporated (NYSE:RBC – Get Rating) has been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $245.00.
A number of brokerages recently weighed in on RBC. Alembic Global Advisors lowered shares of RBC Bearings from an “overweight” rating to a “neutral” rating and set a $217.00 target price for the company. in a research note on Tuesday, December 20th. Morgan Stanley reduced their target price on shares of RBC Bearings from $293.00 to $283.00 and set an “overweight” rating for the company in a research note on Monday, December 12th. Truist Financial upped their target price on shares of RBC Bearings from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $220.00 target price (down from $269.00) on shares of RBC Bearings in a research note on Tuesday, January 10th. Finally, Royal Bank of Canada lowered shares of RBC Bearings from an “overweight” rating to a “neutral” rating in a research note on Tuesday, December 20th.
RBC Bearings Price Performance
Shares of RBC stock opened at $232.00 on Friday. RBC Bearings has a 12-month low of $152.90 and a 12-month high of $264.94. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 74.36, a price-to-earnings-growth ratio of 6.01 and a beta of 1.42. The company has a quick ratio of 1.16, a current ratio of 2.98 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $223.44 and a 200-day moving average of $232.27.
RBC Bearings (NYSE:RBC – Get Rating) last announced its quarterly earnings results on Thursday, November 10th. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.18. RBC Bearings had a net margin of 7.98% and a return on equity of 7.48%. The company had revenue of $369.17 million during the quarter, compared to analyst estimates of $361.32 million. On average, equities research analysts forecast that RBC Bearings will post 6.82 earnings per share for the current year.
Insider Transactions at RBC Bearings
In other news, CEO Michael J. Hartnett sold 1,500 shares of the stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $241.67, for a total transaction of $362,505.00. Following the completion of the transaction, the chief executive officer now directly owns 275,339 shares in the company, valued at approximately $66,541,176.13. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.71% of the company’s stock.
Institutional Investors Weigh In On RBC Bearings
A number of institutional investors and hedge funds have recently modified their holdings of RBC. American Century Companies Inc. raised its holdings in shares of RBC Bearings by 16.1% in the 1st quarter. American Century Companies Inc. now owns 2,786 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 387 shares during the period. HighTower Advisors LLC raised its holdings in shares of RBC Bearings by 6.8% in the 1st quarter. HighTower Advisors LLC now owns 7,920 shares of the industrial products company’s stock valued at $1,545,000 after purchasing an additional 501 shares during the period. Private Advisor Group LLC raised its holdings in shares of RBC Bearings by 12.8% in the 1st quarter. Private Advisor Group LLC now owns 3,303 shares of the industrial products company’s stock valued at $641,000 after purchasing an additional 375 shares during the period. MetLife Investment Management LLC raised its holdings in RBC Bearings by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 14,826 shares of the industrial products company’s stock valued at $2,874,000 after acquiring an additional 5,159 shares during the period. Finally, BlackRock Inc. raised its holdings in RBC Bearings by 1.6% in the 1st quarter. BlackRock Inc. now owns 2,145,334 shares of the industrial products company’s stock valued at $415,937,000 after acquiring an additional 33,956 shares during the period.
About RBC Bearings
RBC Bearings, Inc engages in the design, manufacture, and marketing of engineered precision bearings and products. It operates through the Aerospace and Defense, and Industrial segments. The Aerospace and Defense segment represents the end markets for the company’s highly engineered bearings and precision components used in commercial aerospace, defense aerospace, and sea and ground defense applications.
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