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

RBC Bearings Incorporated (NYSE:RBC)’s share price reached a new 52-week high on Tuesday . The company traded as high as $567.02 and last traded at $567.6850, with a volume of 9896 shares trading hands. The stock had previously closed at $562.54.

Wall Street Analysts Forecast Growth

RBC has been the topic of a number of recent analyst reports. Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and increased their price target for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $560.50.

RBC Bearings Stock Down 0.9%

The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $503.08 and a 200-day simple moving average of $440.67. The firm has a market cap of $17.71 billion, a P/E ratio of 65.90, a price-to-earnings-growth ratio of 3.22 and a beta of 1.52.

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

Institutional Investors Weigh In On RBC Bearings

Several large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its stake in RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 33 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of RBC Bearings during the fourth quarter worth about $35,000. Advisors Asset Management Inc. purchased a new stake in RBC Bearings in the first quarter valued at approximately $26,000. Larson Financial Group LLC increased its holdings in RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after buying an additional 49 shares during the period. Finally, Root Financial Partners LLC purchased a new position in RBC Bearings during the 3rd quarter worth approximately $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.