T. Rowe Price Associates, Inc. has recently announced that it has increased stake in RBC Bearings Incorporated (NYSE:RBC) by 3.14%. After grabbing 2.97 million shares, the institutional investor is now in possession of 90336.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 10.23% having worth around $621.22 million. Moreover, The Vanguard Group, Inc. increased its share by 6067.0 to have a control over 2.59 million shares. And T. Rowe Price Investment Manageme raised its holdings to 0.78 million shares by acquiring 0.78 million shares or 2.70% of the stake.
RBC Bearings Incorporated (RBC) concluded trading on 01/19/23 at a closing price of $226.84, with 0.14 million shares of worth about $32.07 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.30% during that period and on Thursday the price saw a loss of about -3.08%. Currently the company’s common shares owned by public are about 28.76M shares, out of which, 28.49M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the RBC stock and their offered price forecasts bring an average price target of $238.29. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $283.00 and could fall to a lowest price of $208.00. The stock’s current price level is 4.92% above of average price target set by the analysts, while a rise to estimated low would result in loss of -9.06% for the stock. However, touching the estimated high of $283.00 would mean a gain of 19.84% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 74 times over the past 12 months. They bought 149,938 shares in 39 of the transactions. In 35 selling transactions, insiders dumped 130,054 shares.
T Rowe Price New Horizons Fund, Neuberger Berman Genesis Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in RBC Bearings Incorporated T Rowe Price New Horizons Fund is currently holding 2.1 million shares of worth totaling $439.22 million. The company recently came buying 0.89 million shares which brought its stake up to 7.23% of the company’s outstanding shares. Neuberger Berman Genesis Fund sold 23639.0 shares, after which its hold over company’s outstanding shares shrunk to 3.05%, leaving 0.89 million shares with the mutual fund that have a worth of about $185.29 million. Vanguard Total Stock Market Index, after buying 0.87 million shares, have now control over 3.00% of the stake in the company. It holds 1131.0 shares of worth $182.08 million.
RBC Bearings Incorporated (NYSE: RBC) started trading at $231.71, below -$2.35 from concluding price of the previous day. However, the stock later moved at a day high price of 234.18, or with a loss of -3.08%. Stock saw a price change of 2.49% in past 5 days and over the past one month there was a price change of 9.87%. Year-to-date (YTD), RBC shares are showing a performance of 8.35% which increased to 12.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $152.90 but also hit the highest price of $264.94 during that period. The average intraday trading volume for RBC Bearings Incorporated shares is 130.55K. The stock is currently trading 6.02% above its 20-day simple moving average (SMA20), while that difference is up 0.56% for SMA50 and it goes to 6.66% higher than SMA200.
T. Rowe Price Associates, Inc. acquired 2.97 million shares of RBC Bearings Incorporated having value of about $621.22 million. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. revealed that the firm now holds 90336.0 shares in the company valued at close to $20491818.24, or have control over 3.14% stake in the company. Holding of mutual funds in the company is about 47.21% while other institutional holders and individual stake holders have control over 60.88% and 2.28% of the stake respectively.
The stock has a current market capitalization of $6.62B and its 3Y-monthly beta is at 1.40. PE ratio of stock for trailing 12 months is 72.80, while it has posted earnings per share of $3.12 in the same period. Its PEG reads 12.34 and has Quick Ratio of 1.20 while making debt-to-equity ratio of 0.62. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RBC, volatility over the week remained 3.06% while standing at 2.74% over the month.
Analysts are in expectations that RBC Bearings Incorporated (RBC) stock would likely to be making an EPS of $1.8 in the current quarter, while forecast for next quarter EPS is $1.74 and it is $8.22 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.69 which is $1.86 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.89 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -45.50% while it is estimated to increase by 11.75% in next year. EPS is likely to grow at an annualized rate of 5.90% for next 5-years, compared to annual growth of -8.10% made by the stock over the past 5-years.
Analysts at 9 brokerage firms have issued recommendations for the RBC Bearings Incorporated (RBC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 9 Wall Street analysts, 3 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on January 10, 2023 offering an Equal weight rating for the stock and assigned a target price range of between $269 and $220 to it. Coverage by Alembic Global Advisors stated RBC Bearings Incorporated (RBC) stock as a Neutral in their note to investors on December 20, 2022, suggesting a price target of $217 for the stock.