RBC Bearings Incorporated (NYSE:RBC) Stock Has Average Price Target of $615.44 According to Brokerages

RBC Bearings Incorporated (NYSE:RBC) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $615.44.

RBC has been the subject of a number of analyst reports. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings downgraded RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $686.00 target price on shares of RBC Bearings in a report on Tuesday, August 4th. Truist Financial raised their target price on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada set a $600.00 target price on RBC Bearings in a research report on Monday, September 14th.

RBC Bearings Stock Up 0.4%

Shares of NYSE:RBC opened at $485.72 on Monday. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 48.00, a P/E/G ratio of 2.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 0.98. The business’s 50-day moving average is $497.41 and its 200-day moving average is $551.26. RBC Bearings has a 1 year low of $401.90 and a 1 year high of $667.69.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.46. The company had revenue of $519.50 million for the quarter, compared to the consensus estimate of $508.92 million. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. RBC Bearings’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.84 EPS. Equities research analysts predict that RBC Bearings will post 14.03 earnings per share for the current year.

Hedge Funds Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH purchased a new stake in RBC Bearings during the second quarter valued at about $6,493,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in RBC Bearings by 40.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,430 shares of the industrial products company’s stock worth $50,514,000 after purchasing an additional 22,721 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in RBC Bearings during the second quarter worth about $2,608,000. Squarepoint Ops LLC boosted its position in RBC Bearings by 1,382.4% during the second quarter. Squarepoint Ops LLC now owns 52,448 shares of the industrial products company’s stock worth $33,780,000 after purchasing an additional 48,910 shares during the period. Finally, Corient Private Wealth LP increased its stake in shares of RBC Bearings by 25.8% in the second quarter. Corient Private Wealth LP now owns 11,106 shares of the industrial products company’s stock worth $7,153,000 after purchasing an additional 2,275 shares in the last quarter.

About RBC Bearings

RBC Bearings Incorporated is a manufacturer of highly engineered bearing and motion-control products. Founded in 1919 and headquartered in Oxford, Connecticut, the company serves original equipment manufacturers and aftermarket customers that require components designed for demanding operating environments.

Its product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, thrust bearings, and related precision components. These products are used in applications involving load support, friction reduction, positioning, and motion control across aerospace and defense, industrial equipment, construction, transportation, energy, and other specialized markets.

RBC Bearings sells its products through a combination of direct sales, distributors, and customer-specific manufacturing programs.