RBC Bearings Incorporated (NYSE:RBC) Short Interest Update

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 555,700 shares, a growth of 25.2% from the March 31st total of 443,900 shares. Based on an average daily volume of 173,200 shares, the days-to-cover ratio is currently 3.2 days. Approximately 1.8% of the company's shares are sold short.

Analysts Set New Price Targets

Several analysts have commented on RBC shares. KeyCorp upped their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Truist Financial reduced their price target on RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Morgan Stanley upped their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $354.20.

RBC Bearings Stock Up 1.3 %

NYSE RBC traded up $4.55 on Thursday, reaching $346.75. The company had a trading volume of 3,949 shares, compared to its average volume of 159,619. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings has a 1 year low of $259.88 and a 1 year high of $372.83. The firm has a 50-day moving average of $331.80 and a 200-day moving average of $326.20. The firm has a market capitalization of $10.89 billion, a PE ratio of 47.63, a P/E/G ratio of 4.42 and a beta of 1.66.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, CFO Robert M. Sullivan sold 8,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the sale, the chief financial officer now owns 11,382 shares in the company, valued at $4,123,129.50. This represents a 41.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RBC. NBC Securities Inc. acquired a new position in shares of RBC Bearings in the 1st quarter worth approximately $25,000. R Squared Ltd acquired a new position in RBC Bearings in the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in RBC Bearings by 109.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 59 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings during the fourth quarter worth $38,000. Finally, UMB Bank n.a. lifted its position in shares of RBC Bearings by 84.9% in the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after buying an additional 79 shares during the last quarter.

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.