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

by · The Markets Daily

RBC Bearings Incorporated (NYSE:RBCGet Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $517.92 and last traded at $514.9540, with a volume of 41486 shares traded. The stock had previously closed at $507.13.

Analyst Ratings Changes

RBC has been the topic of several analyst reports. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and upped their target price for the company from $390.00 to $500.00 in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, December 17th. KeyCorp lifted their target price on shares of RBC Bearings from $475.00 to $535.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $489.17.

Read Our Latest Stock Analysis on RBC Bearings

RBC Bearings Price Performance

The stock’s fifty day moving average is $468.56 and its 200-day moving average is $422.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.18 and a quick ratio of 1.13. The stock has a market capitalization of $16.11 billion, a PE ratio of 62.22, a P/E/G ratio of 3.33 and a beta of 1.53.

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

Insider Activity

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the completion of the transaction, the director owned 1,999 shares in the company, valued at $885,557. This represents a 25.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of RBC Bearings

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. increased its holdings in RBC Bearings by 4.6% in the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock valued at $220,000 after buying an additional 25 shares during the period. Jones Financial Companies Lllp raised its position in shares of RBC Bearings by 2.7% during the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 26 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of RBC Bearings by 27.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 26 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of RBC Bearings by 0.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock worth $3,930,000 after purchasing an additional 27 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of RBC Bearings by 12.1% in the third quarter. Allworth Financial LP now owns 259 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 28 shares in the last quarter.

About RBC Bearings

(Get Free Report)

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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