RBC Bearings (NYSE:RBC) Stock Rating Upgraded by Zacks Research

RBC Bearings (NYSE:RBC) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

RBC has been the subject of several other reports. Morgan Stanley reiterated an “overweight” rating and set a $600.00 price objective on shares of RBC Bearings in a research note on Friday, February 6th. Truist Financial upped their price target on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and raised their price objective for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. The Goldman Sachs Group restated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, RBC Bearings has a consensus rating of “Buy” and an average price target of $560.50.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $549.96 on Wednesday. The firm has a market capitalization of $17.39 billion, a PE ratio of 64.70, a P/E/G ratio of 3.26 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The business has a 50-day moving average of $483.64 and a two-hundred day moving average of $430.22. RBC Bearings has a 12 month low of $297.28 and a 12 month high of $563.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. The business had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The company’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 EPS. As a group, research analysts forecast that RBC Bearings will post 9.16 earnings per share for the current year.

Institutional Investors Weigh In On RBC Bearings

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Machina Capital S.A.S. acquired a new position in shares of RBC Bearings during the second quarter worth approximately $352,000. Frontier Capital Management Co. LLC acquired a new stake in RBC Bearings in the 2nd quarter valued at approximately $39,818,000. Principal Financial Group Inc. raised its stake in RBC Bearings by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock valued at $43,495,000 after acquiring an additional 4,776 shares in the last quarter. EULAV Asset Management boosted its position in RBC Bearings by 20.6% during the 3rd quarter. EULAV Asset Management now owns 78,600 shares of the industrial products company’s stock worth $30,677,000 after acquiring an additional 13,400 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in shares of RBC Bearings in the third quarter worth $374,000.

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.