RB Global (NYSE:RBA) Price Target Raised to $89.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price lifted by Scotiabank from $88.00 to $89.00 in a research note published on Wednesday, Benzinga reports. Scotiabank currently has a sector outperform rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on RBA. Royal Bank of Canada raised their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an outperform rating in a research report on Monday, February 26th. Raymond James raised their price target on shares of RB Global from $78.00 to $90.00 and gave the stock an outperform rating in a research report on Monday, February 26th. Finally, StockNews.com raised shares of RB Global from a sell rating to a hold rating in a research report on Friday, February 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $83.00.

RB Global Stock Performance

Shares of RB Global stock opened at $73.16 on Wednesday. The firm has a market capitalization of $13.37 billion, a P/E ratio of 86.07, a PEG ratio of 5.52 and a beta of 0.87. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $74.51 and a 200 day moving average price of $68.08. RB Global has a 52 week low of $51.07 and a 52 week high of $77.99.

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

Insider Transactions at RB Global

In other news, insider Darren Jeffrey Watt sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the sale, the insider now owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total value of $871,269.12. Following the sale, the executive now owns 30,915 shares of the company’s stock, valued at approximately $2,359,432.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now directly owns 21,103 shares in the company, valued at approximately $1,625,986.15. The disclosure for this sale can be found here. Insiders have sold 14,816 shares of company stock valued at $1,133,055 in the last 90 days. 4.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. grew its stake in RB Global by 53.3% in the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 162 shares during the period. Signaturefd LLC grew its stake in RB Global by 11.0% in the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 190 shares during the period. Claret Asset Management Corp boosted its stake 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 purchasing an additional 238 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in RB Global by 4.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 5,386 shares of the business services provider’s stock worth $360,000 after purchasing an additional 250 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its stake in RB Global by 5.6% during 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 last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.