RBC Bearings (NYSE:RBC) Reaches New 1-Year High – Should You Buy?

RBC Bearings Incorporated (NYSE:RBC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $608.15 and last traded at $607.6710, with a volume of 217521 shares trading hands. The stock had previously closed at $593.12.

Wall Street Analyst Weigh In

RBC has been the subject of several analyst reports. Truist Financial upgraded shares of RBC Bearings to a “strong-buy” rating in a research report on Friday. Morgan Stanley restated an “overweight” rating and set a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. Zacks Research upgraded shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th. Finally, KeyCorp increased their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $574.67.

RBC Bearings Trading Up 2.5%

The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average price is $566.84 and its two-hundred day moving average price is $499.41. The company has a market capitalization of $19.21 billion, a PE ratio of 71.49, a price-to-earnings-growth ratio of 2.87 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The company had revenue of $461.60 million during the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. RBC Bearings’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 earnings per share. Sell-side analysts anticipate that RBC Bearings Incorporated will post 11.43 earnings per share for the current year.

Institutional Trading of RBC Bearings

Institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank lifted its holdings in RBC Bearings by 19.5% in the fourth quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock worth $40,486,000 after buying an additional 14,747 shares during the period. Principal Financial Group Inc. increased its stake in shares of RBC Bearings by 4.5% during the third quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock valued at $43,495,000 after purchasing an additional 4,776 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of RBC Bearings by 263.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock valued at $1,788,000 after purchasing an additional 2,709 shares in the last quarter. Faithward Advisors LLC bought a new position in shares of RBC Bearings during the third quarter valued at approximately $2,826,000. Finally, EULAV Asset Management increased its stake in shares of RBC Bearings by 20.6% during the third quarter. EULAV Asset Management now owns 78,600 shares of the industrial products company’s stock valued at $30,677,000 after purchasing an additional 13,400 shares in the last quarter.

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.