RB Global (NYSE:RBA) Upgraded by StockNews.com to Buy Rating

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other research firms have also commented on RBA. CIBC dropped their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Raymond James lifted their price objective on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets lifted their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.64.

RB Global Trading Up 2.0 %

RBA stock opened at $99.22 on Tuesday. The firm has a fifty day moving average price of $94.97 and a 200 day moving average price of $90.67. RB Global has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a market cap of $18.33 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94.

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 for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period last year, the business posted $0.82 earnings per share. Sell-side analysts anticipate that RB Global will post 2.5 earnings per share for the current fiscal year.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the transaction, the executive now directly owns 20,267 shares in the company, valued at approximately $1,983,125.95. The trade was a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RB Global

A number of large investors have recently added to or reduced their stakes in RBA. CoreCap Advisors LLC raised its holdings in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global during the fourth quarter worth about $27,000. Versant Capital Management Inc grew its stake in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of RB Global during the fourth quarter worth about $36,000. 95.37% of the stock is currently owned by institutional investors.

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.