Brokerages Set RB Global, Inc. (NYSE:RBA) PT at $82.80

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has earned an average rating of “Buy” from the six research firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $82.80.

RBA has been the subject of several analyst reports. Raymond James increased their price objective on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Royal Bank of Canada boosted their price objective on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Finally, Scotiabank raised their target price on RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Monday, February 26th.

RB Global Trading Down 1.0 %

NYSE RBA opened at $72.49 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $74.02 and a 200 day simple moving average of $67.74. RB Global has a 12 month low of $51.07 and a 12 month high of $77.99. The firm has a market capitalization of $13.25 billion, a P/E ratio of 85.28, a PEG ratio of 5.56 and a beta of 0.87.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue was up 134.5% compared to the same quarter last year. On average, analysts predict that RB Global will post 1.88 EPS for the current fiscal year.

Insider Activity at RB Global

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

Institutional Investors Weigh In On RB Global

Institutional investors have recently made changes to their positions in the stock. Mariner LLC raised its stake in shares of RB Global by 3.6% during the 3rd quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock valued at $1,723,000 after purchasing an additional 946 shares during the period. Triasima Portfolio Management inc. grew its holdings in RB Global by 1,152.4% during the 4th quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock valued at $12,947,000 after buying an additional 177,698 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of RB Global by 487.6% in the fourth quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider’s stock worth $10,591,000 after buying an additional 131,383 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of RB Global by 10.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock worth $645,007,000 after buying an additional 977,171 shares in the last quarter. Finally, FMR LLC boosted its position in shares of RB Global by 49.2% in the third quarter. FMR LLC now owns 42,443 shares of the business services provider’s stock valued at $2,656,000 after acquiring an additional 13,987 shares during the period. Hedge funds and other 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.