The Goldman Sachs Group Raises RBC Bearings (NYSE:RBC) Price Target to $276.00

RBC Bearings (NYSE:RBC) had its target price boosted by The Goldman Sachs Group from $245.00 to $276.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on the company. Citigroup increased their price target on RBC Bearings from $250.00 to $285.00 and gave the stock a neutral rating in a research report on Monday, February 12th. Truist Financial increased their target price on shares of RBC Bearings from $309.00 to $328.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. Finally, Morgan Stanley increased their target price on shares of RBC Bearings from $310.00 to $330.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $286.57.

RBC Bearings Price Performance

Shares of RBC opened at $291.22 on Tuesday. The business’s 50-day moving average is $265.34 and its two-hundred day moving average is $266.44. The company has a market capitalization of $8.42 billion, a P/E ratio of 45.50, a P/E/G ratio of 3.52 and a beta of 1.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.16 and a current ratio of 3.28. RBC Bearings has a fifty-two week low of $195.18 and a fifty-two week high of $298.49.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 17th. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.22. The company had revenue of $413.70 million for the quarter, compared to the consensus estimate of $414.21 million. RBC Bearings had a return on equity of 9.81% and a net margin of 13.45%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $2.06 EPS. Research analysts predict that RBC Bearings will post 8.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RBC. Lisanti Capital Growth LLC raised its holdings in RBC Bearings by 89.2% in the 4th quarter. Lisanti Capital Growth LLC now owns 14,385 shares of the industrial products company’s stock valued at $4,098,000 after acquiring an additional 6,780 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in RBC Bearings in the 4th quarter valued at about $2,336,000. Dark Forest Capital Management LP acquired a new stake in RBC Bearings in the 3rd quarter valued at about $512,000. Marco Investment Management LLC acquired a new stake in RBC Bearings in the 4th quarter valued at about $217,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in RBC Bearings by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 283,721 shares of the industrial products company’s stock valued at $80,829,000 after acquiring an additional 5,881 shares during the last quarter.

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.