RB Global (NYSE:RBA) Price Target Raised to $133.00

RB Global (NYSE:RBA) (TSE:RBA) had its price target hoisted by Royal Bank Of Canada from $132.00 to $133.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 32.44% from the company’s previous close.

Other research analysts have also issued reports about the stock. BMO Capital Markets raised their target price on RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Bank of America lowered their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday. Raymond James Financial boosted their price objective on shares of RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Weiss Ratings cut shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, National Bankshares cut their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a report on Thursday, October 9th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, RB Global has an average rating of “Moderate Buy” and an average price target of $122.71.

RB Global Stock Performance

Shares of NYSE RBA traded up $4.22 during midday trading on Friday, reaching $100.43. The company’s stock had a trading volume of 1,406,694 shares, compared to its average volume of 1,091,180. The firm has a 50 day moving average price of $107.95 and a 200-day moving average price of $107.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global has a 12-month low of $85.55 and a 12-month high of $119.58. The stock has a market capitalization of $18.65 billion, a P/E ratio of 49.72, a PEG ratio of 2.48 and a beta of 0.66.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. RB Global’s revenue was up 12.0% on a year-over-year basis. As a group, equities analysts predict that RB Global will post 2.5 earnings per share for the current year.

Insider Transactions at RB Global

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Several institutional investors and hedge funds have recently modified their holdings of RBA. SouthState Corp bought a new stake in RB Global during the 1st quarter valued at approximately $26,000. SVB Wealth LLC bought a new stake in shares of RB Global during the first quarter valued at approximately $28,000. IFP Advisors Inc grew its stake in RB Global by 348.8% in the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after purchasing an additional 279 shares during the period. Rise Advisors LLC purchased a new stake in RB Global in the first quarter worth $38,000. Finally, Spire Wealth Management raised its holdings in RB Global by 1,090.6% in the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after purchasing an additional 349 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other 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.