RBC Bearings (NYSE:RBC) Reaches New 52-Week High – Time to Buy?

RBC Bearings Incorporated (NYSE:RBC) reached a new 52-week high on Wednesday . The company traded as high as $512.82 and last traded at $511.2960, with a volume of 127665 shares changing hands. The stock had previously closed at $504.54.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $390.00 to $500.00 in a research note on Thursday, November 6th. Truist Financial set a $542.00 price objective on RBC Bearings in a research note on Friday, January 9th. KeyCorp boosted their price target on RBC Bearings from $475.00 to $535.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Finally, Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $489.17.

RBC Bearings Stock Up 1.0%

The company has a current ratio of 3.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $16.11 billion, a P/E ratio of 62.22, a P/E/G ratio of 3.36 and a beta of 1.53. The stock’s 50-day simple moving average is $462.33 and its 200-day simple moving average is $419.13.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, October 31st. The industrial products company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The company had revenue of $455.30 million for the quarter, compared to analysts’ expectations of $450.27 million. During the same period in the previous year, the business posted $2.29 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, research analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the sale, the director owned 1,999 shares of the company’s stock, valued at $885,557. This trade represents a 25.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On RBC Bearings

A number of large investors have recently added to or reduced their stakes in RBC. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings during the first quarter valued at approximately $26,000. Larson Financial Group LLC grew its holdings in shares of RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in RBC Bearings in the fourth quarter worth $35,000. Root Financial Partners LLC purchased a new position in RBC Bearings during the 3rd quarter valued at about $36,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of RBC Bearings by 1,257.1% during the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 88 shares during the last quarter.

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.