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

RBC Bearings Incorporated (NYSE:RBC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $465.80 and last traded at $462.59, with a volume of 254472 shares traded. The stock had previously closed at $460.17.

Wall Street Analyst Weigh In

RBC has been the subject of several analyst reports. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $390.00 to $500.00 in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a report on Monday. Truist Financial restated a “buy” rating and issued a $471.00 target price (up previously from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd. Finally, Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $463.17.

RBC Bearings Trading Down 1.6%

The business has a 50 day simple moving average of $423.99 and a 200 day simple moving average of $399.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.18 and a quick ratio of 1.13. The company has a market cap of $14.04 billion, a price-to-earnings ratio of 54.22, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter. RBC Bearings had a net margin of 15.03% and a return on equity of 10.47%. The business had revenue of $156.21 million for the quarter. As a group, equities analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Insider Buying and Selling at RBC Bearings

In other news, VP John J. Feeney sold 105 shares of RBC Bearings stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the sale, the vice president owned 2,666 shares in the company, valued at $1,020,624.78. The trade was a 3.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven H. Kaplan sold 700 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the sale, the director owned 1,999 shares of the company’s stock, valued at $885,557. The trade was a 25.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of RBC Bearings

A number of institutional investors and hedge funds have recently modified their holdings of RBC. Machina Capital S.A.S. bought a new stake in shares of RBC Bearings in the second quarter worth $352,000. HB Wealth Management LLC acquired a new stake in shares of RBC Bearings in the second quarter valued at about $237,000. Jump Financial LLC bought a new stake in RBC Bearings during the first quarter worth about $254,000. Frontier Capital Management Co. LLC acquired a new position in RBC Bearings during the second quarter valued at approximately $39,818,000. Finally, Dakota Wealth Management bought a new position in RBC Bearings in the second quarter valued at approximately $628,000.

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.