RBC Bearings (NYSE:RBC) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• RBC Bearings experienced a significant increase in trading volume, with approximately 205,353 shares traded, up 20% from the prior session.
• Analysts generally maintain a positive outlook on RBC Bearings, with price targets ranging from $416 to $503, and a consensus rating of "Moderate Buy."
• The company's COO recently sold a substantial number of shares, reducing their position by over 30%, which could indicate insights into the stock's current performance.

Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) saw unusually-high trading volume on Monday . Approximately 205,353 shares changed hands during mid-day trading, an increase of 20% from the previous session's volume of 170,823 shares.The stock last traded at $378.22 and had previously closed at $372.64.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on shares of RBC Bearings and gave the stock a "buy" rating in a research report on Wednesday, October 8th. KeyCorp increased their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Weiss Ratings reissued a "buy (b)" rating on shares of RBC Bearings in a research report on Wednesday, October 8th. Zacks Research downgraded shares of RBC Bearings from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Finally, The Goldman Sachs Group increased their price objective on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, RBC Bearings presently has a consensus rating of "Moderate Buy" and an average price target of $429.00.

RBC Bearings Trading Up 2.6%

The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 2.88 and a beta of 1.71. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. The business's 50 day simple moving average is $388.69 and its 200 day simple moving average is $370.23.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results 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 net margin of 15.20% and a return on equity of 10.14%. On average, research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Insider Activity

In related news, COO Daniel A. Bergeron sold 48,743 shares of RBC Bearings stock in a transaction that occurred 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 sale, the chief operating officer directly owned 111,134 shares of the company's stock, valued at approximately $44,759,218.50. The trade was a 30.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John J. Feeney sold 105 shares of RBC Bearings stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following 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 ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. bought a new stake in shares of RBC Bearings during the 1st quarter valued at approximately $25,000. Advisors Asset Management Inc. bought a new stake in RBC Bearings during the 1st quarter worth approximately $26,000. Hantz Financial Services Inc. grew its holdings in RBC Bearings by 1,257.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company's stock worth $37,000 after acquiring an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in RBC Bearings by 123.3% during the 2nd 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. Finally, AlphaQuest LLC bought a new stake in RBC Bearings during the 2nd quarter worth approximately $83,000.

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.

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