National Bank Financial Increases RB Global (NYSE:RBA) Price Target to $132.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective boosted by analysts at National Bank Financial from $130.00 to $132.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the business services provider’s stock. National Bank Financial’s price target would indicate a potential upside of 21.04% from the company’s current price.

RBA has been the topic of several other reports. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Wall Street Zen raised RB Global from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a report on Tuesday, June 30th. Stephens restated an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their price objective on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, RB Global currently has a consensus rating of “Buy” and an average price target of $127.12.

RB Global Price Performance

Shares of NYSE RBA traded up $0.93 during trading on Monday, hitting $109.06. 298,991 shares of the company were exchanged, compared to its average volume of 1,293,263. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global has a 1 year low of $93.58 and a 1 year high of $119.58. The company has a market cap of $20.28 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.69 and a beta of 0.55. The firm’s fifty day moving average price is $107.43 and its 200 day moving average price is $105.93.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $888.01 million during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $0.89 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts expect that RB Global will post 4.16 earnings per share for the current fiscal year.

Insider Activity at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legacy Wealth Asset Management LLC grew its holdings in RB Global by 127.3% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock valued at $3,068,000 after buying an additional 14,755 shares during the last quarter. Gradient Investments LLC purchased a new position in RB Global during the second quarter worth $797,000. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of RB Global by 12.3% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 28,340 shares of the business services provider’s stock worth $3,298,000 after acquiring an additional 3,100 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of RB Global by 7.2% in the second quarter. Assenagon Asset Management S.A. now owns 6,961 shares of the business services provider’s stock worth $810,000 after acquiring an additional 468 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. lifted its position in shares of RB Global by 51.3% in the second quarter. Armstrong Henry H Associates Inc. now owns 40,909 shares of the business services provider’s stock valued at $4,764,000 after acquiring an additional 13,875 shares in the last quarter. Hedge funds and other institutional investors 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.