RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Rating of “Buy” from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $574.6667.

RBC has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Morgan Stanley reiterated an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, KeyCorp raised their price objective on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RBC. Lido Advisors LLC grew its holdings in RBC Bearings by 3.5% during the 4th quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 22 shares in the last quarter. UMB Bank n.a. boosted its position in RBC Bearings by 7.1% in the 4th quarter. UMB Bank n.a. now owns 348 shares of the industrial products company’s stock valued at $156,000 after buying an additional 23 shares during the last quarter. Assetmark Inc. boosted its position in RBC Bearings by 4.6% in the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock valued at $220,000 after buying an additional 25 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of RBC Bearings by 2.7% during the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock valued at $383,000 after acquiring an additional 26 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of RBC Bearings by 27.1% during the third quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 26 shares during the last quarter.

RBC Bearings Trading Down 1.7%

NYSE RBC opened at $531.61 on Friday. The company has a market cap of $16.81 billion, a P/E ratio of 62.54, a P/E/G ratio of 2.98 and a beta of 1.47. RBC Bearings has a 12 month low of $297.28 and a 12 month high of $589.16. 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 company has a 50-day moving average of $535.91 and a 200-day moving average of $459.69.

RBC Bearings (NYSE:RBC) last released its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (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 business had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $460.69 million. During the same period last year, the company earned $2.34 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts predict that RBC Bearings will post 9.16 earnings per share for the current year.

About RBC Bearings

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.