RBC Bearings (NYSE:RBC) Hits New 52-Week High – Still a Buy?

RBC Bearings Incorporated (NYSE:RBC)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $494.18 and last traded at $499.07, with a volume of 7341 shares changing hands. The stock had previously closed at $489.33.

Analyst Upgrades and Downgrades

RBC has been the topic of several research reports. KeyCorp upped their price objective on shares of RBC Bearings from $475.00 to $535.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their target price for the stock from $390.00 to $500.00 in a research note on Thursday, November 6th. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, 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. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $489.17.

RBC Bearings Stock Up 2.3%

The company has a quick ratio of 1.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $15.82 billion, a PE ratio of 61.17, a PEG ratio of 3.28 and a beta of 1.53. The company’s 50 day moving average is $450.34 and its two-hundred day moving average is $411.46.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, October 31st. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The firm had revenue of $455.30 million during the quarter, compared to analyst estimates of $450.27 million. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. On average, analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Activity at RBC Bearings

In other news, Director Steven H. Kaplan sold 700 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total value of $310,100.00. Following the sale, the director directly owned 1,999 shares in the company, valued at $885,557. The trade was a 25.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On RBC Bearings

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBC. Assetmark Inc. increased its position in shares of RBC Bearings by 4.6% during the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 25 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of RBC Bearings by 2.7% in the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock valued at $383,000 after acquiring an additional 26 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of RBC Bearings by 27.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 26 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in RBC Bearings by 0.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock valued at $3,930,000 after purchasing an additional 27 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in RBC Bearings by 12.1% during the 3rd quarter. Allworth Financial LP now owns 259 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 28 shares during the last quarter.

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.