RBC Bearings (NYSE:RBC) Stock Price Target Lowered at Morgan Stanley

RBC Bearings (NYSE:RBC) had its price objective decreased by investment analysts at Morgan Stanley from $655.00 to $600.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley‘s price objective would indicate a potential upside of 27.01% from the company’s current price.

A number of other brokerages also recently commented on RBC. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Raymond James Financial upgraded shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price on the stock in a research report on Monday, August 3rd. Truist Financial boosted their price target on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $686.00 price objective on shares of RBC Bearings in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $609.67.

RBC Bearings Price Performance

Shares of NYSE RBC traded up $10.18 during trading on Monday, reaching $472.39. The company had a trading volume of 186,611 shares, compared to its average volume of 245,566. The company has a current ratio of 3.13, a quick ratio of 1.16 and a debt-to-equity ratio of 0.20. RBC Bearings has a twelve month low of $416.30 and a twelve month high of $667.69. The stock has a 50-day moving average price of $496.10 and a two-hundred day moving average price of $551.17. The stock has a market capitalization of $14.96 billion, a PE ratio of 42.25, a price-to-earnings-growth ratio of 2.49 and a beta of 1.39.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, October 30th. The industrial products company reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $3.53 by $0.21. The business had revenue of $524.60 million for the quarter, compared to analyst estimates of $513.95 million. RBC Bearings had a return on equity of 12.50% and a net margin of 17.51%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 earnings per share. As a group, sell-side analysts predict that RBC Bearings will post 14.03 earnings per share for the current year.

Institutional Investors Weigh In On RBC Bearings

A number of institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP raised its stake in RBC Bearings by 27.5% during the first quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock worth $222,516,000 after purchasing an additional 88,468 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of RBC Bearings by 40.8% during the 2nd 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 valued at $50,514,000 after buying an additional 22,721 shares during the period. Bank of America Corp DE grew its stake in shares of RBC Bearings by 9.6% during the 1st quarter. Bank of America Corp DE now owns 77,992 shares of the industrial products company’s stock valued at $42,359,000 after buying an additional 6,807 shares during the period. Fifth Third Bancorp increased its holdings in shares of RBC Bearings by 12,957.3% during the 1st quarter. Fifth Third Bancorp now owns 74,949 shares of the industrial products company’s stock worth $40,707,000 after buying an additional 74,375 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of RBC Bearings by 1,382.4% during the 2nd quarter. Squarepoint Ops LLC now owns 52,448 shares of the industrial products company’s stock worth $33,780,000 after buying an additional 48,910 shares during 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.