RBC Bearings (NYSE:RBC) Rating Lowered to “Hold” at Wall Street Zen

RBC Bearings (NYSE:RBC) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

RBC has been the subject of several other research reports. Morgan Stanley reissued an “overweight” rating and set a $600.00 price objective on shares of RBC Bearings in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. Truist Financial boosted their price objective on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Finally, KeyCorp lifted their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, RBC Bearings presently has an average rating of “Buy” and a consensus target price of $574.67.

RBC Bearings Stock Performance

RBC Bearings stock opened at $565.85 on Friday. RBC Bearings has a 1-year low of $297.28 and a 1-year high of $589.16. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $17.89 billion, a PE ratio of 66.57, a price-to-earnings-growth ratio of 3.10 and a beta of 1.47. The firm’s 50 day simple moving average is $521.32 and its 200 day simple moving average is $450.60.

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

Institutional Trading of RBC Bearings

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

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.