Alert: Positive Investment/Fundamental Signals (11/20/23)-RBC Bearings Inc (NYSE: RBC)

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RBC Bearings Inc (NYSE: RBC) has benefited from extremely meaningful positive changes in investment behavior: the stock’s recent price rise disrupted its longer term downtrend, its longer term price trend turned up, and its shorter term price trend turned up.

Recent marginal positive changes in fundamentals have benefitted RBC Bearings Inc (NYSE: RBC): significant quarterly earnings acceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.

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Current PriceTarget Research Rating

Reflecting future returns on capital that are forecasted to exceed the cost of capital, RBC is expected to continue to be a Value Builder.

RBC Bearings has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. RBC Bearings has a slightly negative Appreciation Score of 38 but a good Power Rating of 78, leading to the High Neutral Value Trend Rating.

Recent Price Action

RBC Bearings Inc (NYSE: RBC) stock closed at $240.99 on 11/20/23 after a modest decline of -0.7%. The stock has risen 5.4% during the last week and has been strong relative to the market over the last nine months.

About John Lafferty 122561 Articles
During his career, John has developed valuation and stock rating methodologies, managed institutional portfolios and mutual funds, and provided equity research to institutional investors on thousands of companies. He has been Director of Research at PTR since its inception in 2004.

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