RB Global (NYSE:RBA) PT Set at $125.00 by Royal Bank Of Canada

RB Global (NYSE:RBA) (TSE:RBA) has been given a $125.00 price objective by equities research analysts at Royal Bank Of Canada in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 18.23% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Robert W. Baird raised their price objective on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Wall Street Zen raised RB Global from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. National Bank Financial downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 25th. CIBC raised their target price on shares of RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. Finally, National Bankshares reduced their target price on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and a consensus target price of $115.79.

RB Global Stock Performance

Shares of RBA stock opened at $105.73 on Wednesday. The company has a fifty day moving average price of $104.97 and a two-hundred day moving average price of $98.35. RB Global has a one year low of $70.38 and a one year high of $109.25. The stock has a market cap of $19.58 billion, a P/E ratio of 52.08, a P/E/G ratio of 3.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned $0.90 EPS. RB Global’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that RB Global will post 2.5 EPS for the current year.

Insider Transactions at RB Global

In related news, Director Adam Dewitt sold 800 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director directly owned 5,865 shares in the company, valued at approximately $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew John Fesler sold 9,075 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the transaction, the insider directly owned 5,532 shares in the company, valued at approximately $579,311.04. This represents a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,075 shares of company stock worth $2,007,349 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC grew its position in RB Global by 12.8% during the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock worth $3,389,000 after buying an additional 3,847 shares in the last quarter. Strs Ohio bought a new stake in shares of RB Global during the 1st quarter valued at $1,849,000. Geneos Wealth Management Inc. grew its holdings in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares in the last quarter. Intech Investment Management LLC increased its position in shares of RB Global by 77.0% in the first quarter. Intech Investment Management LLC now owns 77,800 shares of the business services provider’s stock worth $7,807,000 after purchasing an additional 33,845 shares during the period. Finally, Jane Street Group LLC increased its position in shares of RB Global by 1,469.4% in the first quarter. Jane Street Group LLC now owns 365,071 shares of the business services provider’s stock worth $36,617,000 after purchasing an additional 341,809 shares during the period. 95.37% of the stock is owned by institutional investors.

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.