Brokerages Set RB Global, Inc. (NYSE:RBA) PT at $83.00

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been assigned an average recommendation of “Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $83.00.

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Scotiabank boosted their price target on shares of RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 24th. Raymond James upped their target price on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, Royal Bank of Canada boosted their price objective on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th.

RB Global Price Performance

Shares of NYSE RBA opened at $72.95 on Tuesday. RB Global has a twelve month low of $51.07 and a twelve month high of $77.99. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 85.82, a PEG ratio of 5.43 and a beta of 0.88. The firm has a 50-day moving average of $74.46 and a two-hundred day moving average of $68.50. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The company’s quarterly revenue was up 134.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. As a group, analysts expect that RB Global will post 1.9 earnings per share for the current fiscal year.

Insider Activity

In other RB Global news, CRO James J. Jeter sold 11,416 shares of the 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 transaction, the executive now owns 30,915 shares of the company’s stock, valued at $2,359,432.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now directly owns 30,915 shares in the company, valued at $2,359,432.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Darren Jeffrey Watt sold 2,300 shares of RB Global stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at $1,624,297.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,816 shares of company stock valued at $1,133,055. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

A number of institutional investors have recently added to or reduced their stakes in the company. Oakworth Capital Inc. raised its position in shares of RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after buying an additional 162 shares in the last quarter. Signaturefd LLC grew its stake in shares of RB Global by 11.0% in the fourth quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock worth $128,000 after purchasing an additional 190 shares during the last quarter. Claret Asset Management Corp lifted its holdings in RB Global by 1.7% during the 3rd quarter. Claret Asset Management Corp now owns 14,217 shares of the business services provider’s stock worth $889,000 after buying an additional 238 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in RB Global by 4.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 5,386 shares of the business services provider’s stock valued at $360,000 after acquiring an additional 250 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of RB Global by 5.6% in the 1st quarter. Yousif Capital Management LLC now owns 5,221 shares of the business services provider’s stock worth $398,000 after purchasing an additional 278 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

About RB Global

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.