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

RBC Bearings Incorporated (NYSE:RBC)’s stock price reached 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.

Analyst Ratings Changes

A number of research firms have issued reports on RBC. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and raised their target price for the company from $390.00 to $500.00 in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, December 17th. 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 research note on Monday, November 3rd. Finally, Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Six investment 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $463.17.

RBC Bearings Stock Up 1.6%

The company has a quick ratio of 1.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $440.51 and a two-hundred day simple moving average of $406.05. The company has a market capitalization of $14.74 billion, a price-to-earnings ratio of 56.72, a P/E/G ratio of 3.14 and a beta of 1.53.

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

Insider Buying and Selling

In related news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the completion of the sale, the director directly owned 1,999 shares of the company’s stock, valued at $885,557. This trade represents a 25.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new stake in RBC Bearings in the 1st quarter valued at about $26,000. Larson Financial Group LLC lifted its holdings 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 worth $32,000 after buying an additional 49 shares in the last quarter. Root Financial Partners LLC bought a new position in RBC Bearings in the 3rd quarter valued at $36,000. Hantz Financial Services Inc. increased its stake in shares of RBC Bearings by 1,257.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after buying an additional 88 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position 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 worth $37,000 after acquiring an additional 53 shares during 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.