RBC Bearings (NYSE:RBC) Stock Rating Upgraded by Wall Street Zen

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

RBC has been the topic of a number of other reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. KeyCorp increased their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Truist Financial lifted their price target on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, RBC Bearings has a consensus rating of “Buy” and a consensus price target of $574.67.

RBC Bearings Stock Performance

Shares of RBC opened at $548.32 on Friday. The business’s 50 day moving average is $545.47 and its two-hundred day moving average is $471.75. RBC Bearings has a 52-week low of $297.28 and a 52-week high of $589.16. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 64.51, a PEG ratio of 2.64 and a beta of 1.49. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last released its 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 company had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The business’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 EPS. Analysts forecast that RBC Bearings will post 9.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Frontier Capital Management Co. LLC bought a new position in shares of RBC Bearings during the second quarter valued at approximately $39,818,000. Principal Financial Group Inc. lifted its holdings in shares of RBC Bearings by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock worth $43,495,000 after purchasing an additional 4,776 shares during the last quarter. Faithward Advisors LLC bought a new stake in shares of RBC Bearings in the 3rd quarter worth approximately $2,826,000. EULAV Asset Management boosted its position in RBC Bearings by 20.6% during the 3rd quarter. EULAV Asset Management now owns 78,600 shares of the industrial products company’s stock valued at $30,677,000 after purchasing an additional 13,400 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in RBC Bearings during the 3rd quarter valued at approximately $374,000.

RBC Bearings Company Profile

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.