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

RBC Bearings Incorporated (NYSE:RBC - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $372.95 and last traded at $370.00, with a volume of 202315 shares traded. The stock had previously closed at $364.25.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of analyst reports. Truist Financial cut their price target on RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Morgan Stanley lifted their price objective on RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, KeyCorp lifted their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $354.20.

RBC Bearings Stock Up 0.3%

The firm has a market cap of $11.57 billion, a PE ratio of 50.60, a P/E/G ratio of 4.42 and a beta of 1.66. The stock has a 50-day simple moving average of $333.48 and a two-hundred day simple moving average of $329.81. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 return on equity of 10.06% and a net margin of 14.59%. The business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. Analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Institutional Investors Weigh In On RBC Bearings

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of RBC Bearings by 162.2% during the 3rd quarter. Barclays PLC now owns 21,030 shares of the industrial products company's stock valued at $6,296,000 after purchasing an additional 13,010 shares during the last quarter. Park Avenue Securities LLC raised its position in RBC Bearings by 33.6% in the 4th quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company's stock worth $525,000 after purchasing an additional 441 shares during the period. UMB Bank n.a. increased its position in shares of RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after acquiring an additional 79 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of RBC Bearings during the fourth quarter worth approximately $82,000. Finally, Curated Wealth Partners LLC boosted its stake in shares of RBC Bearings by 1.6% during the fourth quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company's stock valued at $595,000 after purchasing an additional 32 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.