RBC Bearings (NYSE:RBC) Sets New 12-Month High - Should You Buy?

Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $387.24 and last traded at $386.81, with a volume of 30746 shares trading hands. The stock had previously closed at $381.25.

Analyst Ratings Changes

Several research firms have issued reports on RBC. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial upped their price objective on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and a consensus price target of $394.00.

RBC Bearings Trading Down 1.7%

The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 49.70, a price-to-earnings-growth ratio of 3.88 and a beta of 1.66. The business has a 50 day simple moving average of $359.41 and a 200-day simple moving average of $340.25.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The business had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. During the same period in the prior year, the firm posted $2.47 EPS. The company's revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Buying and Selling

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total transaction of $218,555.40. Following the transaction, the director now directly owns 6,985 shares in the company, valued at $2,565,730.20. This represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Daniel A. Bergeron sold 31,282 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the transaction, the chief operating officer now directly owns 111,134 shares of the company's stock, valued at approximately $42,262,037.52. This represents a 21.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,973 shares of company stock worth $29,186,872. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Park Avenue Securities LLC raised its position in shares of RBC Bearings by 50.8% during the 1st quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company's stock valued at $852,000 after acquiring an additional 892 shares in the last quarter. Deutsche Bank AG lifted its position in shares of RBC Bearings by 2.9% in the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after buying an additional 49 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of RBC Bearings by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock valued at $59,581,000 after buying an additional 1,103 shares during the period. Fifth Third Bancorp grew its position in shares of RBC Bearings by 15.8% during the 1st quarter. Fifth Third Bancorp now owns 690 shares of the industrial products company's stock valued at $222,000 after buying an additional 94 shares during the last quarter. Finally, Callan Family Office LLC raised its stake in RBC Bearings by 251.7% during the fourth quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company's stock worth $723,000 after acquiring an additional 1,729 shares during the period.

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.