Shares of RBC Bearings Incorporated (NYSE: RBC – Get Rating) have been rated as “held” by an average of ten stock research firms, according to Marketbeat.com. Two stock market analysts rated the stock with a sell rating, three gave it a hold rating, and three gave the stock a buy rating. Analysts covering the stock last year had a 12-month average price target of $239.71.
Several research firms have recently published reports on RBC. Morgan Stanley cut RBC Bearings’ price target from $293 to $283 and gave the company an “overweight” rating in a report released on Monday, December 12. Bank of America (Bofa) downgraded RBC Bearings from “neutral” to “unsatisfactory” in a report released Wednesday, September 14. Bank of America affirmed its rating of “unsatisfactory” and raised its price target for RBC Bearings shares from $193.00 to $235.00 in a report released Wednesday, September 14. Finally, Truist Financial raised its price target for RBC Bearings from $240 to $265 and gave the stock a Buy recommendation in a research report released Friday, Nov. 11.
RBC opened Friday at $206.46 on the New York Stock Exchange. The company has a market capitalization of $5.99 billion, a P/E ratio of 66.17, a P/E ratio of 5.47, and a beta of 1.35. The 50-day moving average of the stock is $233.39 and the 200-day moving average is $223.58. RBC Bearings had a twelve-month low of $152.90 and a twelve-month high of $264.94. The company has a quick ratio of 1.16, a current ratio of 2.98 and a debt to equity ratio of 0.62.
RBC Bearings (NYSE: RBC – Get Rating) last reported its financial results on Thursday, November 10. The industrial goods company reported earnings per share of $1.81 for the quarter, beating analysts’ consensus estimate of $1.63 by $0.18. The company’s revenue for the quarter was $369.17 million, beating analysts’ expectations of $361.32 million. RBC Bearings had a net profit margin of 7.98% and a return on equity of 7.48%. Analysts forecast RBC Bearings’ fiscal year earnings per share of 6.81.
In other news, CEO Michael J. Hartnett sold 1,500 shares in trading on Monday, November 28th. These shares were traded for an average of $241.67 for a total of $362,505. Following the sale, the CEO now directly owns 275,339 shares of the company worth $66,541,176.13. The sale was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through the SEC website. In other news, RBC Bearings CEO Michael J. Hartnett sold 1,500 shares of the company in a deal that took place on Monday, Nov. 28. The shares traded at an average price of $241.67 for a total transaction value of $362,505.00. Following the sale, the CEO now directly owns 275,339 shares of the company worth $66,541,176.13. The deal was disclosed in a legal document filed with the US Securities and Exchange Commission, available at this hyperlink. In addition, director Richard R. Crowell sold 1,600 shares of the company in an auction on Tuesday, September 20th. The average sale price of the shares is $233.27 and the total value is $373,232.00. With the completion of the transaction, the directors now directly own 30,070 shares of the company, worth approximately $7,014,428.90. A disclosure of this sale can be found here. 2.80% of the shares are currently held by company insiders.
Hedge funds have recently bought and sold shares in the company. Price T Rowe Associates Inc. MD increased its stake in RBC Bearings by 21.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,580,868 shares of industrial products company worth $477,332,000 after purchasing an additional 463,801 shares last quarter. Durable Capital Partners LP increased its stake in RBC Bearings by 28.2% in the first quarter. Durable Capital Partners LP now owns 1,604,993 shares of industrial goods company valued at $311,176,000 after acquiring an additional 353,074 shares last quarter. Champlain Investment Partners LLC increased its stake in RBC Bearings by 54.5% in the first quarter. Champlain Investment Partners LLC now owns 311,140 shares of industrial products company worth $60,324,000 after acquiring an additional 109,745 shares during the period. Wasatch Advisors Inc. increased its position in RBC Bearings by 3.5% in the first quarter. Wasatch Advisors Inc. now owns 1,458,413 shares of industrial products company worth $282,757,000 after purchasing an additional 49,064 shares last quarter. Finally, Macquarie Group Ltd increased its stake in RBC Bearings by 24.6% in the second quarter. Macquarie Group Ltd. now owns 181,795 shares of industrial products company worth $33,623,000 after purchasing an additional 35,908 shares during this period.
RBC Bearings Incorporated manufactures and markets custom designed precision bearings and components in the US and internationally. It operates in two segments: Aerospace/Defense and Industrial. The company manufactures plain bearings in self-lubricating or metal-to-metal designs, including connecting rod ends, spherical plain bearings and plain bearings; rolling bearings such as tapered roller bearings, needle roller bearings, needle roller bearings and cam followers components, which are anti-friction products for industrial applications and military aircraft platforms, and ball bearings, including high-precision aerospace, control, thin-walled and industrial ball bearings, in which high precision ball elements are used to reduce friction in high speed applications.
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Post time: Jan-04-2023