RBC Bearings (NYSE:RBC) Reaches New 52-Week High – What’s Next?

RBC Bearings Incorporated (NYSE:RBC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $432.90 and last traded at $432.7590, with a volume of 5633 shares trading hands. The stock had previously closed at $427.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RBC shares. The Goldman Sachs Group increased their price target on RBC Bearings from $375.00 to $416.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, October 8th. KeyCorp increased their price target on RBC Bearings from $405.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Truist Financial reiterated a “buy” rating and set a $471.00 price target (up from $455.00) on shares of RBC Bearings in a research report on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of RBC Bearings in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and a consensus price target of $431.67.

RBC Bearings Stock Performance

The firm’s 50-day moving average is $388.48 and its 200 day moving average is $379.72. The stock has a market cap of $13.68 billion, a PE ratio of 54.58, a P/E/G ratio of 3.16 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The firm had revenue of $156.21 million during the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. As a group, research analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Insiders Place Their Bets

In other news, COO Daniel A. Bergeron sold 48,743 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the transaction, the chief operating officer directly owned 111,134 shares of the company’s stock, valued at $44,759,218.50. This represents a 30.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John J. Feeney sold 105 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the sale, the vice president directly owned 2,666 shares in the company, valued at $1,020,624.78. This trade represents a 3.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of RBC Bearings

Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in RBC Bearings in the first quarter valued at $26,000. Root Financial Partners LLC purchased a new position in RBC Bearings in the 3rd quarter valued at about $36,000. Hantz Financial Services Inc. lifted its holdings in 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 purchasing an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 53 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in RBC Bearings during the third quarter worth about $38,000.

RBC Bearings Company Profile

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.