RBC Bearings (NYSE:RBC) Reaches New 12-Month High - What's Next?

RBC Bearings Incorporated (NYSE:RBC - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $381.89 and last traded at $380.09, with a volume of 39833 shares. The stock had previously closed at $377.50.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RBC shares. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial restated a "buy" rating and set a $405.00 price objective (up from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, RBC Bearings presently has an average rating of "Moderate Buy" and an average target price of $387.50.

RBC Bearings Price Performance

The stock has a fifty day moving average price of $344.33 and a 200-day moving average price of $336.41. The firm has a market capitalization of $11.98 billion, a PE ratio of 52.40, a P/E/G ratio of 4.42 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same period last year, the business posted $2.47 EPS. The business's revenue was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of RBC Bearings in the 1st quarter worth $1,632,000. Advisors Capital Management LLC boosted its position in shares of RBC Bearings by 5.4% in the 1st quarter. Advisors Capital Management LLC now owns 29,391 shares of the industrial products company's stock worth $9,457,000 after purchasing an additional 1,497 shares in the last quarter. Jane Street Group LLC boosted its position in shares of RBC Bearings by 198.2% in the 1st quarter. Jane Street Group LLC now owns 4,861 shares of the industrial products company's stock worth $1,564,000 after purchasing an additional 3,231 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of RBC Bearings by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,770 shares of the industrial products company's stock worth $21,163,000 after purchasing an additional 923 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of RBC Bearings in the 1st quarter worth $635,000.

About RBC Bearings

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.