RBC Bearings (NYSE:RBC) Given Outperform Rating at William Blair

William Blair restated their outperform rating on shares of RBC Bearings (NYSE:RBC) in a research report released on Tuesday morning,RTT News reports.

Several other analysts also recently weighed in on RBC. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a research report on Friday, November 22nd. Truist Financial lifted their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and upped their price target for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and a consensus price target of $324.67.

RBC Bearings Price Performance

RBC stock opened at $335.11 on Tuesday. RBC Bearings has a 12-month low of $240.36 and a 12-month high of $343.92. The stock has a 50-day moving average price of $301.50 and a two-hundred day moving average price of $290.28. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.53 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 4.67 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). The firm had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.07 EPS. As a group, research analysts predict that RBC Bearings will post 8.94 EPS for the current year.

Insider Activity

In related news, CEO Michael J. Hartnett sold 19,283 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $289.42, for a total value of $5,580,885.86. Following the transaction, the chief executive officer now owns 317,814 shares in the company, valued at approximately $91,981,727.88. This trade represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 34,127 shares of company stock valued at $9,839,707 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

Hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. DT Investment Partners LLC bought a new position in shares of RBC Bearings in the second quarter worth $35,000. Opal Wealth Advisors LLC purchased a new stake in shares of RBC Bearings during the 2nd quarter valued at $41,000. Canada Pension Plan Investment Board bought a new stake in RBC Bearings in the 2nd quarter worth approximately $54,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of RBC Bearings during the second quarter valued at about $68,000.

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.