One important metric to look for in a stock is an 80 or higher Relative Strength Rating. RBC Bearings cleared that benchmark Monday, with a jump from 80 to 87 Monday.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks tend to have an RS Rating of above 80 in the early stages of their moves.
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RBC Bearings is still within a buy range after moving past a 346.77 entry in a cup without handle. Once a stock moves 5% or higher beyond the original entry, it's considered extended and out of buy range.
The relative strength has entered new high ground, a sign the stock is outperforming the general market in terms of price performance. .
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 26%, compared to 6% in the prior report. Revenue increased from 3% to 5%.
RBC Bearings earns the No. 1 rank among its peers in the Metal-Fabricators industry group. Mueller Industries and Northwest Pipe are also among the group's highest-rated stocks.
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