RB Global, Inc. (NYSE:RBA) Receives Consensus Rating of “Buy” from Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have received an average recommendation of “Buy” from the five analysts that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $83.00.

Several brokerages recently issued reports on RBA. Scotiabank upped their price target on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 24th. Raymond James increased their target price on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Royal Bank of Canada boosted their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a research note on Friday, February 9th.

Insider Activity

In related news, insider Darren Jeffrey Watt sold 1,100 shares of the company’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 value of $84,755.00. Following the transaction, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated 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 owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction dated 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 $2,359,432.80. The disclosure for this sale can be found here. Insiders sold 14,816 shares of company stock valued at $1,133,055 in the last three months. Company insiders own 4.32% of the company’s stock.

Institutional Trading of RB Global

A number of hedge funds and other institutional investors have recently made changes to their positions in RBA. Headlands Technologies LLC purchased a new stake in shares of RB Global in the third quarter worth about $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in RB Global in the 3rd quarter worth approximately $26,000. YHB Investment Advisors Inc. bought a new position in RB Global in the 1st quarter valued at $27,000. Oakworth Capital Inc. grew its position in shares of RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 162 shares in the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of RB Global in the first quarter worth $33,000. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Performance

Shares of RBA stock opened at $70.80 on Tuesday. 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 $12.94 billion, a PE ratio of 83.29, a price-to-earnings-growth ratio of 5.43 and a beta of 0.88. The firm has a fifty day simple moving average of $74.70 and a two-hundred day simple moving average of $68.39. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

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 for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The firm’s revenue was up 134.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. Analysts forecast that RB Global will post 1.9 EPS for the current fiscal year.

RB Global Company Profile

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.