National Bank Financial Issues Positive Forecast for RB Global (NYSE:RBA) Stock Price

RB Global (NYSE:RBA) (TSE:RBA) had its price target raised by analysts at National Bank Financial from $130.00 to $132.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. National Bank Financial’s price target would indicate a potential upside of 51.02% from the stock’s previous close.

Several other equities analysts have also recently weighed in on RBA. Zacks Research cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $152.00 price target on shares of RB Global in a research report on Wednesday, September 23rd. Barclays cut their price target on shares of RB Global from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Finally, Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and a consensus price target of $126.29.

RB Global Stock Down 0.5%

NYSE RBA traded down $0.42 during trading hours on Thursday, hitting $87.40. 1,275,437 shares of the company traded hands, compared to its average volume of 1,445,486. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The business’s 50-day moving average is $84.65 and its 200-day moving average is $98.84. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 37.48, a P/E/G ratio of 1.51 and a beta of 0.53. RB Global has a twelve month low of $78.05 and a twelve month high of $119.33.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. Sell-side analysts anticipate that RB Global will post 4.06 earnings per share for the current year.

Insider Activity

In related news, Director Chloe Harford acquired 1,200 shares of the company’s stock in a transaction on Monday, August 24th. The stock was purchased at an average cost of $83.74 per share, with a total value of $100,488.00. Following the acquisition, the director directly owned 1,200 shares of the company’s stock, valued at approximately $100,488. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah Stein purchased 500 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were purchased at an average cost of $80.91 per share, with a total value of $40,455.00. Following the acquisition, the director owned 2,325 shares in the company, valued at $188,115.75. This trade represents a 27.40% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Armstrong Henry H Associates Inc. increased its stake in shares of RB Global by 30.1% in the third quarter. Armstrong Henry H Associates Inc. now owns 53,226 shares of the business services provider’s stock valued at $4,332,000 after buying an additional 12,317 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of RB Global by 9.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock worth $19,873,000 after purchasing an additional 17,489 shares during the period. Legacy Wealth Asset Management LLC boosted its position in RB Global by 127.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock valued at $3,068,000 after acquiring an additional 14,755 shares during the last quarter. Bank of America Corp DE boosted its position in shares of RB Global by 7.8% during the 1st quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock valued at $139,216,000 after purchasing an additional 104,560 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of RB Global during the 2nd quarter worth approximately $17,590,000. Institutional investors own 95.37% of the company’s stock.

RB Global Company Profile

RB Global, Inc (NYSE: RBA) is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.