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

Wall Street Zen upgraded shares of RBC Bearings (NYSE:RBC) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other brokerages also recently issued reports on RBC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Morgan Stanley restated an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research note on Friday, February 6th. KeyCorp upped their target price on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the company a “buy” rating in a research note 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 given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $574.67.

RBC Bearings Stock Up 0.0%

NYSE:RBC opened at $548.32 on Friday. The company’s 50-day simple moving average is $545.47 and its 200-day simple moving average is $471.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. 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 P/E ratio of 64.51, a P/E/G ratio of 2.64 and a beta of 1.49.

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

Institutional Investors Weigh In On RBC Bearings

Several institutional investors and hedge funds have recently made changes to their positions in RBC. Norges Bank acquired a new position in shares of RBC Bearings in the 4th quarter valued at $175,909,000. Artisan Partners Limited Partnership lifted its position in RBC Bearings by 51.7% during the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock worth $241,821,000 after acquiring an additional 211,093 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in RBC Bearings by 39,846.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock worth $83,295,000 after acquiring an additional 185,284 shares during the period. Cartenna Capital LP purchased a new stake in RBC Bearings during the 4th quarter valued at about $76,233,000. Finally, Invesco Ltd. grew its stake in RBC Bearings by 60.5% during the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after purchasing an additional 143,710 shares during the last quarter.

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.