Fintel reports that on November 22, 2024, Keybanc upgraded their outlook for RBC Bearings (NYSE:RBC) from Sector Weight to Overweight.
Analyst Price Forecast Suggests 1.48% Upside
As of November 21, 2024, the average one-year price target for RBC Bearings is $329.26/share. The forecasts range from a low of $301.99 to a high of $364.35. The average price target represents an increase of 1.48% from its latest reported closing price of $324.45 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for RBC Bearings is 1,594MM, an increase of 0.14%. The projected annual non-GAAP EPS is 9.11.
What is the Fund Sentiment?
There are 780 funds or institutions reporting positions in RBC Bearings. This is an increase of 35 owner(s) or 4.70% in the last quarter. Average portfolio weight of all funds dedicated to RBC is 0.36%, an increase of 1.29%. Total shares owned by institutions increased in the last three months by 4.46% to 38,810K shares. 
The put/call ratio of RBC is 3.63, indicating a bearish outlook.
What are Other Shareholders Doing?
Durable Capital Partners holds 2,583K shares representing 8.27% ownership of the company. In its prior filing, the firm reported owning 2,393K shares , representing an increase of 7.37%. The firm increased its portfolio allocation in RBC by 6.78% over the last quarter.
BlackRock holds 2,441K shares representing 7.81% ownership of the company.
Price T Rowe Associates holds 2,147K shares representing 6.87% ownership of the company. In its prior filing, the firm reported owning 2,035K shares , representing an increase of 5.25%. The firm decreased its portfolio allocation in RBC by 43.74% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 1,935K shares representing 6.20% ownership of the company. In its prior filing, the firm reported owning 1,941K shares , representing a decrease of 0.32%. The firm decreased its portfolio allocation in RBC by 29.56% over the last quarter.
Wasatch Advisors holds 1,528K shares representing 4.89% ownership of the company. In its prior filing, the firm reported owning 1,737K shares , representing a decrease of 13.74%. The firm decreased its portfolio allocation in RBC by 10.60% over the last quarter.
RBC Bearings Background Information
(This description is provided by the company.)
RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings and components. Founded in 1919, the Company is primarily focused on producing highly technical or regulated bearing products and components requiring sophisticated design, testing and manufacturing capabilities for the diversified industrial, aerospace and defense markets. The Company is headquartered in Oxford, Connecticut.
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