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

RBC Bearings (NYSE:RBC)‘s stock had its “outperform” rating reiterated by equities research analysts at William Blair in a research note issued to investors on Tuesday,RTT News reports.

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

RBC Bearings Stock Performance

NYSE:RBC traded up $0.63 on Tuesday, reaching $339.41. 31,191 shares of the company’s stock were exchanged, compared to its average volume of 143,153. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 49.60, a P/E/G ratio of 4.63 and a beta of 1.51. RBC Bearings has a 52 week low of $240.36 and a 52 week high of $343.66. The stock has a fifty day simple moving average of $298.76 and a 200-day simple moving average of $289.10.

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

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total transaction of $145,367.00. Following the completion of the transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at approximately $93,227,932. This represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 34,127 shares of company stock worth $9,839,707 in the last three months. 2.60% of the stock is owned by company insiders.

Institutional Trading of RBC Bearings

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of RBC Bearings by 1.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock worth $523,769,000 after buying an additional 22,470 shares in the last quarter. State Street Corp grew its position in shares of RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after buying an additional 19,962 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in shares of RBC Bearings by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock worth $221,793,000 after buying an additional 12,375 shares in the last quarter. Geneva Capital Management LLC grew its position in shares of RBC Bearings by 1.4% during the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after buying an additional 8,012 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of RBC Bearings by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock worth $144,490,000 after buying an additional 5,040 shares in 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.