RBC Bearings (NYSE:RBC) Sets New 52-Week High – Should You Buy?

RBC Bearings Incorporated (NYSE:RBC) hit a new 52-week high on Thursday . The stock traded as high as $592.14 and last traded at $592.5240, with a volume of 37011 shares. The stock had previously closed at $580.55.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RBC shares. Truist Financial increased their price target on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a report on Friday, February 6th. KeyCorp raised their price objective on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, RBC Bearings presently has an average rating of “Buy” and a consensus target price of $574.67.

RBC Bearings Price Performance

The firm has a fifty day simple moving average of $548.85 and a 200 day simple moving average of $474.90. The company has a market capitalization of $18.83 billion, a PE ratio of 70.06, a P/E/G ratio of 2.64 and a beta of 1.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86.

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

Institutional Trading of RBC Bearings

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Frontier Capital Management Co. LLC purchased a new position in shares of RBC Bearings during the 2nd quarter valued at about $39,818,000. Principal Financial Group Inc. raised its stake in shares of RBC Bearings by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock valued at $43,495,000 after buying an additional 4,776 shares during the last quarter. Faithward Advisors LLC purchased a new position in shares of RBC Bearings during the 3rd quarter valued at about $2,826,000. EULAV Asset Management raised its stake in shares of RBC Bearings by 20.6% during the 3rd quarter. EULAV Asset Management now owns 78,600 shares of the industrial products company’s stock valued at $30,677,000 after buying an additional 13,400 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of RBC Bearings by 263.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock valued at $1,788,000 after buying an additional 2,709 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.