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

RBC Bearings Incorporated (NYSE:RBC) reached a new 52-week high on Thursday . The company traded as high as $346.78 and last traded at $338.05, with a volume of 2661 shares trading hands. The stock had previously closed at $339.71.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RBC. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a research note on Friday, November 22nd. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial upped their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and four have issued 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 price target of $324.67.

RBC Bearings Price 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 market capitalization of $10.50 billion, a P/E ratio of 48.82, a PEG ratio of 4.69 and a beta of 1.55. The company’s 50 day simple moving average is $306.02 and its two-hundred day simple moving average is $292.73.

RBC Bearings (NYSE:RBC) last announced 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 return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the previous year, the company posted $2.07 earnings per share. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts expect that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.

Insider Transactions at RBC Bearings

In related news, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the transaction, the chief executive officer now directly owns 294,120 shares in the company, valued at $83,597,727.60. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 34,127 shares of company stock worth $9,839,707. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

Several large investors have recently bought and sold shares of RBC. UMB Bank n.a. lifted its holdings 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. DT Investment Partners LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $35,000. Opal Wealth Advisors LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $41,000. Canada Pension Plan Investment Board acquired a new position in RBC Bearings in the second quarter valued at approximately $54,000. Finally, Strategic Financial Concepts LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $68,000.

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.