William Blair Reaffirms “Outperform” Rating for RBC Bearings (NYSE:RBC)

RBC Bearings (NYSE:RBC)‘s stock had its “outperform” rating reissued by stock analysts at William Blair in a note issued to investors on Tuesday,RTT News reports.

A number of other equities research analysts have also weighed in on RBC. Truist Financial lifted their price objective on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $324.67.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $339.66 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The business’s 50 day simple moving average is $299.76 and its two-hundred day simple moving average is $289.58. The stock has a market capitalization of $10.67 billion, a P/E ratio of 49.49, a price-to-earnings-growth ratio of 4.66 and a beta of 1.51. RBC Bearings has a one year low of $240.36 and a one year high of $343.66.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. Analysts forecast that RBC Bearings will post 8.94 EPS for the current year.

Insider Activity at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 11,341 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $287.52, for a total value of $3,260,764.32. Following the sale, the chief executive officer now directly owns 320,053 shares of the company’s stock, valued at approximately $92,021,638.56. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 34,127 shares of company stock worth $9,839,707 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RBC Bearings

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in RBC Bearings by 41.3% in the second quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock worth $2,815,000 after acquiring an additional 3,051 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of RBC Bearings by 17.3% in the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of RBC Bearings in the second quarter worth $2,380,000. Segall Bryant & Hamill LLC raised its stake in shares of RBC Bearings by 41.6% in the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares during the last quarter. Finally, Geneva Capital Management LLC raised its stake in shares of RBC Bearings by 1.4% in the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after purchasing an additional 8,012 shares during the last quarter.

RBC Bearings Company Profile

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.