RB Global (NYSE:RBA) Price Target Raised to $89.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price boosted by equities research analysts at Scotiabank from $88.00 to $89.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price target indicates a potential upside of 21.40% from the stock’s current price.

Several other analysts have also commented on the company. Raymond James lifted their price objective on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada lifted their price objective on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

RB Global Stock Down 0.1 %

RBA stock opened at $73.31 on Wednesday. RB Global has a 1-year low of $51.07 and a 1-year high of $77.99. The business has a fifty day moving average price of $74.43 and a 200-day moving average price of $68.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. The stock has a market capitalization of $13.40 billion, a P/E ratio of 86.26, a P/E/G ratio of 5.51 and a beta of 0.87.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.14. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue was up 134.5% on a year-over-year basis. Equities analysts forecast that RB Global will post 1.9 earnings per share for the current fiscal year.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 11,416 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the sale, the executive now owns 30,915 shares of the company’s stock, valued at $2,359,432.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the transaction, the insider now owns 21,103 shares of the company’s stock, valued at $1,625,986.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the completion of the transaction, the executive now directly owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,816 shares of company stock valued at $1,133,055. Company insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of RB Global by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,839,262 shares of the business services provider’s stock worth $1,527,718,000 after acquiring an additional 191,974 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of RB Global by 10.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock worth $645,007,000 after buying an additional 977,171 shares in the last quarter. Vontobel Asset Management Inc. lifted its position in shares of RB Global by 66.5% in the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after buying an additional 2,655,388 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of RB Global by 3.6% in the fourth quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock worth $242,674,000 after buying an additional 124,815 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in shares of RB Global by 4.5% in the third quarter. Fiera Capital Corp now owns 2,614,152 shares of the business services provider’s stock worth $164,125,000 after buying an additional 113,514 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.