RBC Bearings (NYSE:RBC) Hits New 1-Year High – Should You Buy?

Shares of RBC Bearings Incorporated (NYSE:RBC) hit a new 52-week high during trading on Friday . The company traded as high as $329.03 and last traded at $329.03, with a volume of 3190 shares traded. The stock had previously closed at $324.45.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RBC. Truist Financial increased their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the company from $330.00 to $335.00 in a research report on Thursday. Finally, KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $324.67.

RBC Bearings Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The stock has a 50-day moving average price of $296.74 and a 200-day moving average price of $287.70. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 3.69 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) 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 business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period in the prior year, the business earned $2.07 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

Insider Activity at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 19,283 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the transaction, the chief executive officer now owns 317,814 shares in the company, valued at $91,981,727.88. This represents a 5.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the sale, the vice president now directly owns 12,539 shares in the company, valued at $3,669,789.13. This represents a 25.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,327 shares of company stock worth $11,068,921. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. DT Investment Partners LLC acquired a new position in shares of RBC Bearings during the 2nd quarter worth $35,000. Opal Wealth Advisors LLC bought a new stake in shares of RBC Bearings during the 2nd quarter worth $41,000. Canada Pension Plan Investment Board acquired a new stake in RBC Bearings in the second quarter valued at about $54,000. Finally, Blue Trust Inc. grew its position in RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 233 shares during the last quarter.

About RBC Bearings

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.