Scotiabank Raises RB Global (NYSE:RBA) Price Target to $89.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective hoisted by equities researchers at Scotiabank from $88.00 to $89.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price objective would indicate a potential upside of 21.87% from the stock’s current price.

RBA has been the subject of a number of other research reports. Raymond James raised their price target on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada raised their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.00.

RB Global Trading Down 0.3 %

RBA stock traded down $0.21 on Wednesday, reaching $73.03. The company’s stock had a trading volume of 268,022 shares, compared to its average volume of 809,801. The business has a fifty day simple moving average of $74.20 and a two-hundred day simple moving average of $67.95. RB Global has a 12-month low of $51.07 and a 12-month high of $77.99. The firm has a market cap of $13.35 billion, a PE ratio of 85.93, a PEG ratio of 5.48 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35.

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

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of the 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 transaction, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the transaction, the executive now directly owns 30,915 shares in the company, valued at $2,359,432.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 1,100 shares of the firm’s 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 transaction, the insider now 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 90 days, insiders sold 14,816 shares of company stock worth $1,133,055. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Large investors have recently bought and sold shares of the business. Mariner LLC increased its holdings in RB Global by 3.6% in the 3rd quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock worth $1,723,000 after buying an additional 946 shares in the last quarter. Triasima Portfolio Management inc. boosted its position in RB Global by 1,152.4% in the fourth quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock worth $12,947,000 after purchasing an additional 177,698 shares during the last quarter. Vontobel Holding Ltd. boosted its position in 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 purchasing an additional 131,383 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 purchasing an additional 977,171 shares during the last quarter. Finally, FMR LLC boosted its position in RB Global by 49.2% in the third quarter. FMR LLC now owns 42,443 shares of the business services provider’s stock worth $2,656,000 after purchasing an additional 13,987 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

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.