RB Global (NYSE:RBA) Stock Price Expected to Rise, National Bank Financial Analyst Says

Key Points

• National Bank Financial raised RB Global’s price target to $132 from $130 and maintained an “outperform” rating, implying approximately 51% upside from the reported $87.40 share price.
• Analyst sentiment remains positive overall, with RB Global carrying a “Moderate Buy” consensus rating and an average price target of $126.29, despite several firms downgrading the stock to “hold.”
• RB Global recently exceeded quarterly expectations, reporting $1.13 in earnings per share versus the $1.09 consensus estimate and $1.66 billion in revenue versus estimates of $1.21 billion.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA had its price target hoisted 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 firm currently 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 company's current price.

A number of other equities research analysts have also recently weighed in on the company. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of RB Global in a report on Wednesday, August 5th. Weiss Ratings lowered shares of RB Global from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 18th. Royal Bank Of Canada reissued an "outperform" rating and set a $152.00 price target on shares of RB Global in a research note on Wednesday, September 23rd. Finally, Zacks Research lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $126.29.

RB Global Price Performance

Shares of NYSE RBA traded down $0.42 during midday trading on Thursday, reaching $87.40. 1,275,437 shares of the company traded hands, compared to its average volume of 1,445,486. The firm has a market cap of $15.84 billion, a PE ratio of 37.48, a PEG ratio of 1.51 and a beta of 0.53. The stock's 50-day simple moving average is $84.65 and its 200-day simple moving average is $98.84. RB Global has a 12 month low of $78.05 and a 12 month high of $119.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its 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 net margin of 9.99% and a return on equity of 12.37%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, equities analysts anticipate that RB Global will post 4.06 earnings per share for the current fiscal year.

Insider Activity at RB Global

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

Institutional Trading of RB Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. Addison Advisors LLC acquired a new position in RB Global during the second quarter worth $26,000. MV Capital Management Inc. bought a new position in RB Global in the fourth quarter valued at $29,000. J.Safra Asset Management Corp acquired a new stake in RB Global in the 2nd quarter valued at $32,000. Bayban acquired a new stake in RB Global in the 4th quarter valued at $34,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in RB Global in the 2nd quarter valued at $35,000. Institutional investors own 95.37% of the company's stock.

About RB Global

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.

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