RBC Bearings (NYSE:RBC) Share Price Crosses Above 50-Day Moving Average – What’s Next?

RBC Bearings Incorporated (NYSE:RBC)’s share price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $493.29 and traded as high as $499.93. RBC Bearings shares last traded at $494.9310, with a volume of 211,096 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on RBC shares. Guggenheim assumed coverage on RBC Bearings in a research note on Monday, September 14th. They issued a “buy” rating and a $600.00 target price on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $530.00 target price on shares of RBC Bearings in a research note on Monday, November 2nd. Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Deutsche Bank restated a “buy” rating and issued a $686.00 price target on shares of RBC Bearings in a report on Tuesday, August 4th. Finally, Raymond James Financial raised shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price target on the stock in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $623.38.

RBC Bearings Stock Up 0.8%

The stock has a market cap of $15.67 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 2.35 and a beta of 1.39. The business has a fifty day moving average of $493.29 and a 200-day moving average of $550.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.13 and a quick ratio of 1.16.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, October 30th. The industrial products company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.53 by $0.21. The company had revenue of $524.60 million for the quarter, compared to the consensus estimate of $513.95 million. RBC Bearings had a return on equity of 12.50% and a net margin of 17.51%. RBC Bearings’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $2.88 EPS. Equities research analysts anticipate that RBC Bearings Incorporated will post 14.14 earnings per share for the current year.

Hedge Funds Weigh In On RBC Bearings

Several institutional investors have recently made changes to their positions in RBC. Toth Financial Advisory Corp bought a new stake in shares of RBC Bearings in the third quarter valued at about $25,000. Western Wealth Management LLC bought a new stake in shares of RBC Bearings in the 1st quarter valued at about $27,000. Jacobi Capital Management LLC bought a new stake in shares of RBC Bearings in the 3rd quarter valued at about $45,000. Group One Trading LLC bought a new stake in shares of RBC Bearings in the 3rd quarter valued at about $49,000. Finally, Basecamp Wealth Advisors LLC lifted its position in shares of RBC Bearings by 49.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 34 shares during the period.

RBC Bearings Company Profile

RBC Bearings Incorporated designs and manufactures precision bearings and other engineered components for aerospace, defense and industrial applications. Its products include plain, roller and ball bearings, spherical bearings, rod ends and related motion-control components. The company’s products are used in aircraft and defense systems as well as equipment across industries such as construction, energy, transportation and automation. RBC Bearings serves customers worldwide. The company traces its roots to 1919 and has grown through product development and acquisitions.