RB Global, Inc. (NYSE:RBA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $111.36.

A number of research firms have weighed in on RBA. National Bankshares reduced their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. CIBC lowered their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Raymond James raised their price target on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. BMO Capital Markets lifted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th.

RB Global Price Performance

Shares of NYSE:RBA opened at $98.95 on Tuesday. The stock has a market cap of $18.32 billion, a PE ratio of 49.23, a PEG ratio of 4.95 and a beta of 0.90. RB Global has a 52 week low of $69.83 and a 52 week high of $106.90. The company’s fifty day moving average is $98.40 and its 200 day moving average is $93.48. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company posted $0.82 earnings per share. Research analysts anticipate that RB Global will post 2.5 earnings per share for the current year.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 600 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the transaction, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 on 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 sale, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock worth $2,338,161 in the last quarter. 4.32% of the stock is owned by corporate insiders.

Institutional Trading of RB Global

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in RB Global during the fourth quarter worth approximately $266,148,000. Norges Bank purchased a new position in shares of RB Global in the 4th quarter worth approximately $209,931,000. FMR LLC increased its position in shares of RB Global by 137.5% during the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in RB Global by 9.8% during 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, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in RB Global in the fourth quarter worth $39,080,000. 95.37% of the stock is currently owned by hedge funds and other 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.