What Happened?
Shares of bearings manufacturer RBC Bearings (NYSE:RBC) jumped 10.6% in the afternoon session after the company reported strong fourth-quarter results, which revealed improved sales trends, with management anticipating incremental volume recovery in the aerospace segment and a return to growth in the industrial business. It was also encouraging to see RBC Bearings beat analysts' EBITDA and EPS estimates. Overall, this quarter had some key positives.
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What The Market Is Telling Us
RBC Bearings’s shares are not very volatile and have only had 3 moves greater than 5% over the last year. Moves this big are rare for RBC Bearings and indicate this news significantly impacted the market’s perception of the business.
RBC Bearings is up 17.8% since the beginning of the year, and at $351.32 per share, has set a new 52-week high. Investors who bought $1,000 worth of RBC Bearings’s shares 5 years ago would now be looking at an investment worth $2,257.
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