RBC Bearings (NYSE:RBC) Price Target Increased to $330.00 by Analysts at Morgan Stanley

RBC Bearings (NYSE:RBC) had its price target upped by Morgan Stanley from $310.00 to $330.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target points to a potential upside of 13.15% from the stock’s current price.

A number of other brokerages also recently commented on RBC. Citigroup lifted their target price on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Truist Financial boosted their price target on shares of RBC Bearings from $309.00 to $328.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their target price on shares of RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus price target of $286.57.

RBC Bearings Trading Down 0.4 %

RBC Bearings stock opened at $291.66 on Thursday. The stock has a market cap of $8.43 billion, a P/E ratio of 45.57, a PEG ratio of 3.59 and a beta of 1.46. The firm’s 50 day moving average price is $263.41 and its 200-day moving average price is $264.55. RBC Bearings has a 1 year low of $195.18 and a 1 year high of $298.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.28 and a quick ratio of 1.12.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, May 17th. The industrial products company reported $2.47 earnings per share (EPS) 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 business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.06 earnings per share. On average, equities analysts predict that RBC Bearings will post 8.95 earnings per share for the current fiscal year.

Institutional Trading of RBC Bearings

Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in RBC Bearings during the 4th quarter worth $83,318,000. Maren Capital LLC bought a new stake in RBC Bearings in the fourth quarter worth $80,912,000. Public Employees Retirement Association of Colorado grew its stake in shares of RBC Bearings by 1,362.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 118,830 shares of the industrial products company’s stock worth $33,853,000 after acquiring an additional 110,705 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of RBC Bearings by 1,721.8% during the 3rd quarter. Principal Financial Group Inc. now owns 113,641 shares of the industrial products company’s stock worth $26,607,000 after purchasing an additional 107,403 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of RBC Bearings by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock worth $166,926,000 after acquiring an additional 99,066 shares during the period.

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.