RBC Bearings (NYSE:RBC) Reaches New 12-Month High – Still a Buy?

RBC Bearings Incorporated (NYSE:RBC)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $494.18 and last traded at $499.07, with a volume of 7341 shares. The stock had previously closed at $489.33.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial set a $542.00 target price on RBC Bearings in a report on Friday, January 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. KeyCorp lifted their target price on RBC Bearings from $475.00 to $535.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and raised their price target for the stock from $390.00 to $500.00 in a report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $489.17.

RBC Bearings Trading Up 0.3%

The company has a market capitalization of $15.77 billion, a P/E ratio of 60.90, a price-to-earnings-growth ratio of 3.33 and a beta of 1.53. The company has a fifty day simple moving average of $452.92 and a two-hundred day simple moving average of $412.84. 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 quarterly earnings data on Friday, October 31st. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $455.30 million for the quarter, compared to analyst estimates of $450.27 million. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 EPS. On average, analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On RBC Bearings

A number of hedge funds have recently bought and sold shares of RBC. Machina Capital S.A.S. acquired a new position in shares of RBC Bearings during the second quarter valued at about $352,000. HB Wealth Management LLC acquired a new stake in shares of RBC Bearings during the 2nd quarter valued at about $237,000. Frontier Capital Management Co. LLC bought a new stake in RBC Bearings in the second quarter valued at about $39,818,000. Baker Ellis Asset Management LLC acquired a new position in RBC Bearings in the third quarter worth about $450,000. Finally, Dakota Wealth Management acquired a new position in RBC Bearings in the second quarter worth about $628,000.

RBC Bearings Company Profile

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.