Stephens Initiates Coverage on RB Global (NYSE:RBA)

Analysts at Stephens initiated coverage on shares of RB Global (NYSE:RBA) (TSE:RBA) in a research note issued to investors on Friday, Marketbeat reports. The firm set an “equal weight” rating and a $96.00 price target on the business services provider’s stock. Stephens’ price target would suggest a potential downside of 8.02% from the stock’s current price.

A number of other research analysts have also issued reports on RBA. BMO Capital Markets boosted their target price on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada boosted their target price on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Raymond James Financial boosted their target price on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $125.13.

RB Global Trading Up 1.0%

NYSE RBA opened at $104.37 on Friday. RB Global has a one year low of $93.58 and a one year high of $119.58. The company has a 50-day simple moving average of $101.29 and a 200-day simple moving average of $103.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a market capitalization of $19.40 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 1.57 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.99 by $0.12. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. On average, equities analysts forecast that RB Global will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $12,370,435. This represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deborah Stein purchased 400 shares of RB Global stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $98.74 per share, with a total value of $39,496.00. Following the completion of the purchase, the director owned 1,400 shares in the company, valued at approximately $138,236. This trade represents a 40.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of RB Global

A number of institutional investors have recently made changes to their positions in RBA. Vanguard Group Inc. raised its stake in shares of RB Global by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock worth $2,744,455,000 after buying an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock worth $1,120,479,000 after acquiring an additional 165,260 shares during the period. EdgePoint Investment Group Inc. grew its holdings in RB Global by 11.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock worth $792,934,000 after acquiring an additional 821,319 shares during the period. Vontobel Holding Ltd. grew its holdings in RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after acquiring an additional 672,450 shares during the period. Finally, State Street Corp grew its holdings in RB Global by 1.7% during the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock worth $647,118,000 after acquiring an additional 104,286 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

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.