RBC Bearings (NYSE:RBC) Reaches New 12-Month High – Still a Buy?

RBC Bearings Incorporated (NYSE:RBC)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $567.02 and last traded at $567.6850, with a volume of 9896 shares changing hands. The stock had previously closed at $562.54.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RBC. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a research note on Monday, February 9th. Truist Financial boosted their price target on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Morgan Stanley reissued an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. Finally, KeyCorp raised their price target on shares of RBC Bearings from $535.00 to $595.00 and gave the company an “overweight” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $560.50.

RBC Bearings Stock Up 1.4%

The firm has a market capitalization of $18.04 billion, a PE ratio of 67.16, a P/E/G ratio of 3.15 and a beta of 1.52. The firm’s 50 day moving average price is $498.25 and its two-hundred day moving average price is $438.57. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

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

Hedge Funds Weigh In On RBC Bearings

Large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in RBC Bearings during the first quarter valued at $26,000. SBI Securities Co. Ltd. boosted its holdings in shares of RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after buying an additional 33 shares during the period. Larson Financial Group LLC grew its position in shares of RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after buying an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of RBC Bearings during the 4th quarter valued at about $35,000. Finally, Root Financial Partners LLC acquired a new stake in RBC Bearings during the third quarter worth about $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.