RB Global (NYSE:RBA) Lifted to “Hold” at StockNews.com

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their price objective on shares of RB Global from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. National Bank Financial raised their price objective on shares of RB Global from $61.00 to $70.00 in a research report on Monday, July 10th. Finally, Raymond James upgraded shares of RB Global from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $75.00 in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.25.

RB Global Stock Up 0.8 %

Shares of NYSE:RBA opened at $65.72 on Tuesday. The firm has a fifty day moving average price of $61.58 and a two-hundred day moving average price of $58.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.19. RB Global has a one year low of $48.72 and a one year high of $66.99. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 71.43, a PEG ratio of 14.20 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.17). The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.03 billion. RB Global had a net margin of 5.94% and a return on equity of 4.77%. Analysts anticipate that RB Global will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at RB Global

In other RB Global news, insider Megan Anne Cash sold 13,596 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $61.78, for a total value of $839,960.88. Following the transaction, the insider now owns 15,330 shares in the company, valued at $947,087.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Megan Anne Cash sold 13,596 shares of RB Global stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $61.78, for a total transaction of $839,960.88. Following the sale, the insider now owns 15,330 shares of the company’s stock, valued at approximately $947,087.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy J. O’day bought 1,500 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were bought at an average cost of $65.52 per share, for a total transaction of $98,280.00. Following the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $98,280. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,911 shares of company stock worth $412,150. 4.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

Large investors have recently modified their holdings of the stock. South Dakota Investment Council bought a new stake in shares of RB Global during the 1st quarter valued at about $498,000. Sepio Capital LP bought a new stake in RB Global during the first quarter worth about $289,000. Kornitzer Capital Management Inc. KS bought a new stake in RB Global during the first quarter worth about $1,557,000. PCJ Investment Counsel Ltd. bought a new stake in RB Global during the first quarter worth about $9,193,000. Finally, Raymond James & Associates boosted its stake in RB Global by 74.8% during the first quarter. Raymond James & Associates now owns 166,586 shares of the business services provider’s stock worth $9,377,000 after acquiring an additional 71,261 shares in the last quarter. Institutional investors own 90.24% 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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.