RBC Bearings (NYSE:RBC) Reaches New 12-Month High – Should You Buy?

RBC Bearings Incorporated (NYSE:RBC) hit a new 52-week high on Friday . The stock traded as high as $347.12 and last traded at $361.42, with a volume of 6224 shares changing hands. The stock had previously closed at $322.02.

Analysts Set New Price Targets

Several brokerages have weighed in on RBC. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a report on Friday, November 22nd. Finally, Truist Financial lifted their price objective on RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $325.33.

RBC Bearings Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 52.06, a PEG ratio of 4.29 and a beta of 1.57. The business has a fifty day moving average price of $316.69 and a 200 day moving average price of $300.90.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period last year, the firm posted $2.07 EPS. RBC Bearings’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that RBC Bearings Incorporated will post 8.91 earnings per share for the current year.

Hedge Funds Weigh In On RBC Bearings

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in RBC Bearings by 5.5% in the 4th quarter. Principal Financial Group Inc. now owns 92,649 shares of the industrial products company’s stock worth $27,715,000 after purchasing an additional 4,854 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in RBC Bearings in the 4th quarter worth about $7,785,000. Vista Finance LLC acquired a new position in RBC Bearings in the 4th quarter worth about $246,000. Rhumbline Advisers increased its holdings in RBC Bearings by 5.6% in the 4th quarter. Rhumbline Advisers now owns 82,366 shares of the industrial products company’s stock worth $24,639,000 after purchasing an additional 4,367 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in RBC Bearings by 10.3% in the 4th quarter. New Mexico Educational Retirement Board now owns 6,400 shares of the industrial products company’s stock worth $1,914,000 after purchasing an additional 600 shares in the last quarter.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.