RBC Bearings (NYSE:RBC) Reaches New 1-Year High - Should You Buy?

Key Points

• RBC Bearings hit a new 52-week high, trading as high as $608.15 and last at $607.67 on volume of 217,521 shares.
• Analysts show a consensus Buy rating but have an average price target of $574.67 (below the current price) and offer mixed views and targets from $542 to $600.
• The company reported an earnings beat (Q EPS $3.04 vs. $2.83) with revenue up 17% year-over-year to $461.6M, though valuation is high with a PE ratio of 71.49.

RBC Bearings Incorporated (NYSE:RBC - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $608.15 and last traded at $607.6710, with a volume of 217521 shares traded. The stock had previously closed at $593.12.

Analyst Upgrades and Downgrades

RBC has been the topic of several research analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. Wall Street Zen cut shares of RBC Bearings from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Morgan Stanley reiterated an "overweight" rating and issued a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. Truist Financial upgraded shares of RBC Bearings to a "strong-buy" rating in a research report on Friday. Finally, Zacks Research upgraded shares of RBC Bearings from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $574.67.

RBC Bearings Price Performance

The firm's 50-day moving average is $566.84 and its 200-day moving average is $499.41. The company has a market capitalization of $19.21 billion, a PE ratio of 71.49, a price-to-earnings-growth ratio of 2.87 and a beta of 1.47. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results 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 net margin of 15.00% and a return on equity of 10.86%. The company had revenue of $461.60 million during the quarter, compared to analyst estimates of $460.69 million. During the same period in the previous year, the business earned $2.34 earnings per share. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts predict that RBC Bearings Incorporated will post 11.43 earnings per share for the current fiscal year.

Institutional Trading of RBC Bearings

Institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. purchased a new stake in RBC Bearings during the first quarter valued at about $26,000. SBI Securities Co. Ltd. boosted its position in RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company's stock valued at $29,000 after buying an additional 33 shares during the period. Larson Financial Group LLC boosted its position in RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company's stock valued at $32,000 after buying an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in RBC Bearings during the fourth quarter valued at about $35,000. Finally, Root Financial Partners LLC purchased a new stake in RBC Bearings during the third quarter valued at about $36,000.

About RBC Bearings

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.

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