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

RBC Bearings Incorporated (NYSE:RBC) reached a new 52-week high during trading on Thursday . The company traded as high as $639.03 and last traded at $632.3920, with a volume of 27457 shares changing hands. The stock had previously closed at $625.73.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RBC shares. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Truist Financial reiterated a “buy” rating and issued a $615.00 price target (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Morgan Stanley raised their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and an average price target of $584.00.

RBC Bearings Price Performance

The company’s 50-day moving average is $590.40 and its 200-day moving average is $538.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 69.71, a PEG ratio of 3.59 and a beta of 1.42.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.31. The business had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the company earned $2.83 earnings per share. On average, research analysts expect that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Insiders Place Their Bets

In other RBC Bearings news, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the transaction, the director directly owned 21,337 shares of the company’s stock, valued at $12,649,213.71. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management lifted its position in RBC Bearings by 2.9% during the first quarter. Ritholtz Wealth Management now owns 594 shares of the industrial products company’s stock valued at $323,000 after buying an additional 17 shares in the last quarter. Assetmark Inc. raised its stake in shares of RBC Bearings by 3.5% during the first quarter. Assetmark Inc. now owns 557 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 19 shares during the period. Lido Advisors LLC raised its stake in shares of RBC Bearings by 3.5% during the fourth quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 22 shares during the period. UMB Bank n.a. raised its stake in shares of RBC Bearings by 7.1% during the fourth quarter. UMB Bank n.a. now owns 348 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 23 shares during the period. Finally, Millstone Evans Group LLC raised its stake in shares of RBC Bearings by 45.3% during the first quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 24 shares during the period.

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.