RBC Bearings (NYSE:RBC) Sets New 1-Year High – Time to Buy?

RBC Bearings Incorporated (NYSE:RBC) shares hit a new 52-week high on Wednesday . The stock traded as high as $560.32 and last traded at $555.05, with a volume of 20221 shares. The stock had previously closed at $547.51.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RBC shares. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $390.00 to $500.00 in a research report on Thursday, November 6th. Morgan Stanley reiterated an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research report on Friday. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Finally, Truist Financial lifted their price objective on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $560.50.

RBC Bearings Price Performance

The firm has a market cap of $17.59 billion, a price-to-earnings ratio of 65.29, a price-to-earnings-growth ratio of 3.38 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The company’s fifty day moving average is $479.21 and its two-hundred day moving average is $428.52.

RBC Bearings (NYSE:RBC) last issued its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The company had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. During the same quarter in the prior year, the business earned $2.34 earnings per share. The company’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Institutional Trading of RBC Bearings

A number of hedge funds and other institutional investors have recently modified their holdings of RBC. SBI Securities Co. Ltd. grew its stake in RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 33 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of RBC Bearings during the fourth quarter worth approximately $35,000. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings in the first quarter worth $26,000. Larson Financial Group LLC raised its holdings in RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 49 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in RBC Bearings during the 3rd quarter valued at $36,000.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.