Raymond James Boosts RB Global (NYSE:RBA) Price Target to $118.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective raised by analysts at Raymond James from $110.00 to $118.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Raymond James’ target price points to a potential upside of 13.87% from the company’s previous close.

A number of other brokerages have also weighed in on RBA. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. CIBC lowered their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. BMO Capital Markets raised their price target on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Robert W. Baird raised their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Performance

NYSE:RBA opened at $103.63 on Wednesday. RB Global has a 1 year low of $65.99 and a 1 year high of $106.90. The firm has a 50 day moving average of $91.78 and a 200-day moving average of $88.25. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $19.14 billion, a P/E ratio of 51.55, a price-to-earnings-growth ratio of 4.02 and a beta of 0.96.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.03%. During the same quarter last year, the firm posted $0.82 EPS. As a group, sell-side analysts anticipate that RB Global will post 2.5 EPS for the current fiscal year.

Institutional Trading of RB Global

A number of institutional investors have recently bought and sold shares of RBA. Raymond James Financial Inc. acquired a new stake in RB Global during the 4th quarter worth $266,148,000. Norges Bank acquired a new position in shares of RB Global in the 4th quarter valued at $209,931,000. FMR LLC grew its holdings in shares of RB Global by 137.5% in the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after buying an additional 1,623,429 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after buying an additional 610,843 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.