RBC Bearings (NYSE:RBC) Sets New 1-Year High – Time to Buy?

RBC Bearings Incorporated (NYSE:RBC) hit a new 52-week high during trading on Friday . The company traded as high as $343.92 and last traded at $341.12, with a volume of 5851 shares traded. The stock had previously closed at $339.66.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RBC shares. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a report on Friday, November 22nd. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday. Finally, Truist Financial boosted their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $324.67.

RBC Bearings Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The firm has a market cap of $10.60 billion, a P/E ratio of 49.59, a P/E/G ratio of 4.67 and a beta of 1.51. The company’s 50 day moving average is $301.50 and its 200 day moving average is $290.28.

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

Insider Transactions at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $284.23, for a total transaction of $852,690.00. Following the completion of the transaction, the chief executive officer now owns 294,120 shares in the company, valued at approximately $83,597,727.60. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 34,127 shares of company stock worth $9,839,707. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On RBC Bearings

Several large investors have recently modified their holdings of RBC. Marco Investment Management LLC boosted its position in RBC Bearings by 6.6% during the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 50 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of RBC Bearings by 2.6% during the 3rd quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock valued at $633,000 after purchasing an additional 53 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in RBC Bearings by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock worth $1,084,000 after purchasing an additional 58 shares during the period. Legacy Advisors LLC increased its holdings in RBC Bearings by 1.4% in the second quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock worth $1,223,000 after purchasing an additional 61 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the period.

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.