National Bank Financial Cuts RB Global (NYSE:RBA) Price Target to $130.00

RB Global (NYSE:RBA) (TSE:RBA) had its price target cut by equities research analysts at National Bank Financial from $133.00 to $130.00 in a report released on Monday, BayStreet reports. The firm presently has a “sector outperform” rating on the business services provider’s stock. National Bank Financial’s price objective suggests a potential upside of 55.50% from the company’s current price.

Other research analysts also recently issued reports about the company. Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Barclays dropped their target price on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, June 30th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.57.

RB Global Price Performance

RBA stock traded down $0.00 during trading on Monday, hitting $83.60. The stock had a trading volume of 896,702 shares, compared to its average volume of 1,399,591. RB Global has a twelve month low of $79.75 and a twelve month high of $119.58. The company’s 50-day moving average price is $97.27 and its two-hundred day moving average price is $101.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The stock has a market capitalization of $15.48 billion, a P/E ratio of 35.87, a PEG ratio of 1.43 and a beta of 0.52.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. As a group, research analysts predict that RB Global will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling at RB Global

In other news, Director Deborah Stein bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were purchased at an average price of $80.91 per share, with a total value of $40,455.00. Following the purchase, the director owned 2,325 shares in the company, valued at approximately $188,115.75. The trade was a 27.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chloe Harford bought 1,200 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the acquisition, the director directly owned 1,200 shares in the company, valued at $100,488. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after buying an additional 5,090 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of RB Global by 53.1% during the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after acquiring an additional 204 shares during the period. Jones Financial Companies Lllp raised its stake in shares of RB Global by 857.9% in the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 3,346 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of RB Global by 35.6% in the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after acquiring an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in shares of RB Global during the first quarter worth about $4,103,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Company Profile

RB Global, Inc (NYSE: RBA) operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.