RB Global (NYSE:RBA) Price Target Raised to $145.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price lifted by Raymond James Financial from $135.00 to $145.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the business services provider’s stock. Raymond James Financial’s target price indicates a potential upside of 28.18% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. Bank of America lowered their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a report on Friday, November 7th. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a research note on Monday, November 24th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Royal Bank Of Canada raised their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $124.13.

RB Global Trading Up 0.2%

RB Global stock traded up $0.24 during trading on Tuesday, hitting $113.13. The company had a trading volume of 757,706 shares, compared to its average volume of 1,425,432. The company’s 50 day simple moving average is $103.03 and its 200-day simple moving average is $107.01. RB Global has a 1-year low of $86.68 and a 1-year high of $119.58. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 54.13, a price-to-earnings-growth ratio of 2.15 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $0.71 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. As a group, analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Deborah Stein purchased 1,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $101.26 per share, with a total value of $101,260.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

Institutional investors have recently modified their holdings of the company. Cidel Asset Management Inc. boosted its holdings in shares of RB Global by 1.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after buying an additional 11,881 shares during the period. Montrusco Bolton Investments Inc. bought a new position in RB Global in the second quarter worth about $19,717,000. Bank of Nova Scotia Trust Co. boosted its stake in RB Global by 4.7% in the second quarter. Bank of Nova Scotia Trust Co. now owns 74,316 shares of the business services provider’s stock valued at $7,892,000 after acquiring an additional 3,361 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of RB Global by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock valued at $1,162,370,000 after purchasing an additional 705,423 shares during the last quarter. Finally, Kathmere Capital Management LLC bought a new stake in shares of RB Global in the 2nd quarter worth approximately $476,000. Institutional investors and hedge funds 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.