RBC Bearings Incorporated (NYSE:RBC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of RBC Bearings Incorporated (NYSE:RBC) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $287.67.

Several research firms have commented on RBC. Truist Financial decreased their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. The Goldman Sachs Group increased their price objective on shares of RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Raymond James assumed coverage on shares of RBC Bearings in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, William Blair assumed coverage on shares of RBC Bearings in a research note on Wednesday, May 29th. They set an “outperform” rating for the company.

Insider Buying and Selling

In related news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the transaction, the vice president now directly owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the transaction, the vice president now directly owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward Stewart sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the completion of the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at $5,672,607.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,327 shares of company stock valued at $11,900,641. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in RBC Bearings by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,778 shares of the industrial products company’s stock valued at $1,646,000 after purchasing an additional 50 shares during the period. Legacy Advisors LLC boosted its holdings in RBC Bearings by 1.4% in the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after purchasing an additional 61 shares during the period. RiverPark Advisors LLC boosted its holdings in RBC Bearings by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 87 shares during the period. 1832 Asset Management L.P. bought a new position in RBC Bearings in the 4th quarter valued at $27,000. Finally, GAMMA Investing LLC boosted its holdings in RBC Bearings by 36.8% in the 2nd quarter. GAMMA Investing LLC now owns 357 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 96 shares during the period.

RBC Bearings Trading Down 1.4 %

NYSE:RBC opened at $295.45 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 46.16, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51. RBC Bearings has a 52 week low of $214.14 and a 52 week high of $309.01. The firm has a 50-day moving average price of $288.21 and a two-hundred day moving average price of $276.11.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.21 by $0.33. The firm had revenue of $406.30 million during the quarter, compared to analyst estimates of $416.65 million. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. On average, equities analysts expect that RBC Bearings will post 8.85 earnings per share for the current fiscal year.

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.