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

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the company a "buy" rating in a research note on Wednesday. KeyCorp raised shares of RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 price objective on the stock in a research report on Friday. Finally, Bank of America cut RBC Bearings from a "buy" rating to a "neutral" rating and increased their target price for the stock from $330.00 to $335.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $324.67.

RBC Bearings Stock Up 3.8 %

The firm's 50 day simple moving average is $297.72 and its 200-day simple moving average is $288.43. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 49.17, a price-to-earnings-growth ratio of 3.71 and a beta of 1.51.

RBC Bearings (NYSE:RBC - Get Free Report) last released its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same period in the prior year, the firm posted $2.07 EPS. RBC Bearings's revenue was up 3.2% compared to the same quarter last year. Equities analysts expect 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, VP Richard J. Edwards sold 4,200 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares of the company's stock, valued at $3,669,789.13. The trade was a 25.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Hartnett sold 503 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the sale, the chief executive officer now owns 322,588 shares in the company, valued at $93,227,932. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,327 shares of company stock worth $11,068,921 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. UMB Bank n.a. boosted its position 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 period. DT Investment Partners LLC bought a new stake in shares of RBC Bearings during the 2nd quarter worth about $35,000. Opal Wealth Advisors LLC acquired a new position in RBC Bearings in the 2nd quarter valued at about $41,000. Canada Pension Plan Investment Board bought a new position in RBC Bearings in the 2nd quarter valued at about $54,000. Finally, Strategic Financial Concepts LLC bought a new position in RBC Bearings in the 2nd quarter valued at about $68,000.

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.