RB Global, Inc. (NYSE:RBA) Receives $92.19 Average PT from Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $92.19.

Several equities analysts have recently commented on the company. Royal Bank of Canada raised their price target on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. BMO Capital Markets initiated coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price target for the company. Finally, Robert W. Baird upped their price objective on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares of the company’s stock, valued at $1,837,162.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at approximately $1,733,841.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,601 shares of company stock worth $3,720,043 over the last quarter. Insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RBA. Intech Investment Management LLC acquired a new stake in shares of RB Global during the 1st quarter worth approximately $613,000. Price T Rowe Associates Inc. MD grew its position in RB Global by 25.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider’s stock valued at $27,927,000 after buying an additional 74,809 shares during the period. Arlington Partners LLC increased its holdings in RB Global by 22.3% in the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after buying an additional 8,961 shares in the last quarter. MJP Associates Inc. ADV raised its position in shares of RB Global by 10.7% in the second quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider’s stock worth $318,000 after acquiring an additional 401 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of RB Global by 1,177.0% during the 1st quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider’s stock worth $3,319,000 after acquiring an additional 40,160 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Price Performance

RB Global stock opened at $84.79 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 47.63, a price-to-earnings-growth ratio of 5.54 and a beta of 0.93. The firm has a 50-day moving average of $83.42 and a two-hundred day moving average of $79.01. RB Global has a 1 year low of $58.85 and a 1 year high of $87.45.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. RB Global’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. On average, research analysts forecast that RB Global will post 1.92 earnings per share for the current year.

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.