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

RBC Bearings Incorporated (NYSE:RBC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company 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

Several equities analysts have issued reports on the stock. Truist Financial increased their price objective on shares of RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, December 17th. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $390.00 to $500.00 in a research note on Thursday, November 6th. Finally, KeyCorp upped their price objective on 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 assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $560.50.

RBC Bearings Stock Performance

The firm’s fifty day moving average price is $498.25 and its 200-day moving average price is $438.57. The firm has a market cap of $18.04 billion, a price-to-earnings ratio of 67.16, a PEG ratio of 3.15 and a beta of 1.52. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data 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 company had revenue of $461.60 million for the quarter, compared to the consensus estimate of $460.69 million. During the same period last year, the firm posted $2.34 EPS. RBC Bearings’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Institutional Investors Weigh In On RBC Bearings

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

RBC Bearings Company Profile

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.