RBC Bearings (NYSE:RBC) Now Covered by Analysts at Raymond James

Raymond James initiated coverage on shares of RBC Bearings (NYSE:RBC) in a report issued on Friday, MarketBeat Ratings reports. The brokerage issued a market perform rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of RBC Bearings from $245.00 to $276.00 and gave the company a neutral rating in a report on Tuesday, May 28th. William Blair assumed coverage on shares of RBC Bearings in a report on Wednesday, May 29th. They issued an outperform rating on the stock. Truist Financial raised their price target on shares of RBC Bearings from $309.00 to $328.00 and gave the company a buy rating in a report on Tuesday, May 21st. Finally, Morgan Stanley raised their price target on shares of RBC Bearings from $310.00 to $330.00 and gave the company an overweight rating in a report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $286.57.

RBC Bearings Price Performance

RBC Bearings stock opened at $269.76 on Friday. The stock has a market capitalization of $7.80 billion, a P/E ratio of 42.15, a P/E/G ratio of 3.32 and a beta of 1.55. RBC Bearings has a 12-month low of $203.65 and a 12-month high of $299.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.28 and a quick ratio of 1.16. The firm’s 50-day moving average is $272.39 and its two-hundred day moving average is $270.47.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, May 17th. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.22. The business had revenue of $413.70 million for the quarter, compared to analyst estimates of $414.21 million. RBC Bearings had a net margin of 13.45% and a return on equity of 9.81%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.06 EPS. Equities analysts predict that RBC Bearings will post 8.93 earnings per share for the current year.

Insider Activity

In other news, Director Michael H. Ambrose sold 600 shares of RBC Bearings stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $279.16, for a total transaction of $167,496.00. Following the sale, the director now owns 6,728 shares in the company, valued at $1,878,188.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

Several hedge funds and other institutional investors have recently modified their holdings of RBC. 1832 Asset Management L.P. acquired a new stake in shares of RBC Bearings in the 4th quarter valued at about $27,000. Principal Securities Inc. acquired a new stake in shares of RBC Bearings in the 4th quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of RBC Bearings by 570.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 137 shares in the last quarter. GAMMA Investing LLC acquired a new stake in RBC Bearings during the fourth quarter worth about $66,000. Finally, EntryPoint Capital LLC acquired a new stake in RBC Bearings during the first quarter worth about $80,000.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.