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

RBC Bearings Incorporated (NYSE:RBC) shares hit a new 52-week high on Wednesday . The stock traded as high as $564.70 and last traded at $557.3750, with a volume of 12472 shares traded. The stock had previously closed at $552.93.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RBC. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price target for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. KeyCorp boosted their price target on RBC Bearings from $535.00 to $595.00 and gave the company an “overweight” rating in a report on Friday, February 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a research note 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 given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $560.50.

RBC Bearings Stock Up 0.7%

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The business’s 50 day moving average price is $490.35 and its 200 day moving average price is $434.30. The firm has a market cap of $17.60 billion, a PE ratio of 65.51, a PEG ratio of 3.11 and a beta of 1.52.

RBC Bearings (NYSE:RBC) last posted 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 return on equity of 10.86% and a net margin of 15.00%.The company had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $460.69 million. During the same period in the previous year, the firm posted $2.34 EPS. RBC Bearings’s revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Institutional Trading of RBC Bearings

Large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. purchased a new position in RBC Bearings in the 1st quarter worth approximately $26,000. AQR Capital Management LLC lifted its position in RBC Bearings by 27.8% during the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after buying an additional 282 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in RBC Bearings by 32.7% during the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after buying an additional 303 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in RBC Bearings by 64.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after buying an additional 434 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in RBC Bearings by 2.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock valued at $68,133,000 after buying an additional 4,253 shares in 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.