RBC Bearings (NYSE:RBC) Sets New 1-Year High – Here’s Why

RBC Bearings Incorporated (NYSE:RBC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $467.57 and last traded at $466.9250, with a volume of 31974 shares changing hands. The stock had previously closed at $458.79.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RBC shares. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their price target for the stock from $390.00 to $500.00 in a research note on Thursday, November 6th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Truist Financial restated a “buy” rating and issued a $471.00 price objective (up previously from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $477.33.

RBC Bearings Price Performance

The company has a fifty day simple moving average of $442.87 and a 200-day simple moving average of $407.41. The company has a market cap of $15.03 billion, a P/E ratio of 58.04, a PEG ratio of 3.16 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.18 and a quick ratio of 1.13.

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

Insider Transactions at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was 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 in the company, valued at approximately $885,557. The trade was a 25.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RBC. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings in the 1st quarter valued at approximately $26,000. Larson Financial Group LLC raised its stake in RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 49 shares during the period. Root Financial Partners LLC purchased a new stake in shares of RBC Bearings in the third quarter valued at $36,000. Hantz Financial Services Inc. boosted its position in shares of RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after buying an additional 88 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares in the last quarter.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.