RB Global, Inc. (NYSE:RBA) Receives Average Recommendation of “Buy” from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned an average recommendation of “Buy” from the five brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $83.00.

Several research firms have recently commented on RBA. Scotiabank raised their price objective on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada raised their target price on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Raymond James raised their price objective on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, February 26th.

Insider Buying and Selling at RB Global

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

Hedge Funds Weigh In On RB Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in shares of RB Global in the 3rd quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in RB Global during the 3rd quarter valued at $26,000. YHB Investment Advisors Inc. bought a new stake in RB Global in the first quarter worth $27,000. Oakworth Capital Inc. lifted its position in RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after buying an additional 162 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in RB Global during the first quarter worth $33,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of NYSE:RBA opened at $70.80 on Tuesday. 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 stock has a market capitalization of $12.94 billion, a PE ratio of 83.29, a price-to-earnings-growth ratio of 5.43 and a beta of 0.88. The firm’s 50 day moving average price is $74.70 and its 200-day moving average price is $68.39. RB Global has a twelve month low of $51.07 and a twelve month high of $77.99.

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

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.