RBC Bearings (RBC) Projected to Post Quarterly Earnings on Thursday

RBC Bearings (NYSE:RBC) will likely be issuing its quarterly earnings data before the market opens on Thursday, February 13th. Analysts expect the company to announce earnings of $2.20 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

RBC Bearings Stock Up 0.3 %

RBC Bearings stock opened at $364.76 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The company’s 50-day moving average is $320.71 and its 200-day moving average is $305.01. The firm has a market capitalization of $11.46 billion, a PE ratio of 50.11, a P/E/G ratio of 4.90 and a beta of 1.58. RBC Bearings has a fifty-two week low of $241.43 and a fifty-two week high of $372.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Morgan Stanley lifted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Truist Financial upped their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, KeyCorp raised their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus target price of $348.50.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.95, for a total transaction of $919,875.00. Following the transaction, the chief executive officer now owns 320,088 shares in the company, valued at $117,776,379.60. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael H. Ambrose sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the completion of the sale, the director now owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

About RBC Bearings

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.