RBC Bearings (NYSE:RBC) Reaches New 1-Year High - Still a Buy?

Shares of RBC Bearings Incorporated (NYSE:RBC - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $381.89 and last traded at $380.09, with a volume of 39833 shares changing hands. The stock had previously closed at $377.50.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RBC. Truist Financial reiterated a "buy" rating and set a $405.00 price target (up previously from $375.00) on shares of RBC Bearings in a research note on Monday, May 19th. Morgan Stanley restated an "overweight" rating and issued a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $387.50.

RBC Bearings Stock Performance

The business's fifty day simple moving average is $344.33 and its 200-day simple moving average is $336.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The firm has a market capitalization of $11.98 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.70 by $0.13. The business had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. As a group, equities research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Institutional Trading of RBC Bearings

Several hedge funds have recently modified their holdings of the company. Strs Ohio bought a new stake in RBC Bearings in the first quarter worth $1,632,000. Advisors Capital Management LLC increased its holdings in shares of RBC Bearings by 5.4% in the 1st quarter. Advisors Capital Management LLC now owns 29,391 shares of the industrial products company's stock worth $9,457,000 after buying an additional 1,497 shares during the last quarter. Jane Street Group LLC raised its position in shares of RBC Bearings by 198.2% during the 1st quarter. Jane Street Group LLC now owns 4,861 shares of the industrial products company's stock valued at $1,564,000 after buying an additional 3,231 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of RBC Bearings by 1.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,770 shares of the industrial products company's stock valued at $21,163,000 after acquiring an additional 923 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in RBC Bearings in the first quarter worth about $635,000.

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.