RB Global (NYSE:RBA) Upgraded to Buy at Wall Street Zen

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research firms have also recently issued reports on RBA. Raymond James Financial lifted their target price on RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. CIBC lifted their target price on RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Friday, May 9th. Robert W. Baird lifted their target price on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. National Bankshares decreased their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, National Bank Financial cut RB Global from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 25th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

RB Global Trading Up 0.2%

NYSE RBA opened at $104.77 on Friday. The company has a market cap of $19.40 billion, a PE ratio of 51.61, a PEG ratio of 3.69 and a beta of 0.78. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. RB Global has a 12 month low of $70.38 and a 12 month high of $109.25. The stock has a 50 day moving average of $103.51 and a 200-day moving average of $97.79.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. On average, equities research analysts anticipate that RB Global will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew John Fesler sold 9,075 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider now owns 5,532 shares in the company, valued at $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Adam Dewitt sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the sale, the director now owns 5,865 shares of the company’s stock, valued at approximately $622,687.05. This represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,075 shares of company stock valued at $2,007,349 over the last ninety days. 4.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On RB Global

Several institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its holdings in RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares in the last quarter. Securian Asset Management Inc. grew its holdings in RB Global by 0.7% during the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider’s stock worth $1,408,000 after buying an additional 100 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock worth $106,000 after purchasing an additional 104 shares during the last quarter. Wealth Alliance LLC boosted its position in RB Global by 2.7% in the first quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider’s stock worth $399,000 after purchasing an additional 104 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in RB Global by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock worth $3,674,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

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.