RB Global, Inc. (NYSE:RBA) Stock Has Average Target Price of $126.29 According to Brokerages

Key Points

• Analysts rate RB Global “Moderate Buy,” with six buy ratings, three holds and one strong buy. The average 12-month price target is $126.29, well above the stock’s reported $84.18 price.
• Insiders recently purchased shares, while institutional investors hold 95.37% of the company; BlackRock initiated a position valued at approximately $1.82 billion.
• RB Global exceeded quarterly expectations, reporting $1.13 in EPS versus the $1.09 consensus and revenue of $1.66 billion versus $1.21 billion expected. The stock remains near its one-year low of $78.05, compared with a high of $119.33.

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have been given an average rating of "Moderate Buy" by the ten research firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $126.29.

RBA has been the subject of several research reports. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of RB Global in a research note on Wednesday, August 5th. Royal Bank Of Canada restated an "outperform" rating and issued a $152.00 price objective on shares of RB Global in a research note on Wednesday, September 23rd. Raymond James Financial raised shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price objective on the stock in a report on Tuesday, June 30th. Finally, Zacks Research lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th.

Insider Buying and Selling

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

Institutional Investors Weigh In On RB Global

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of RB Global in the second quarter valued at $1,816,059,000. EdgePoint Investment Group Inc. lifted its holdings in RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider's stock worth $845,337,000 after purchasing an additional 1,111,217 shares in the last quarter. Jupiter Topco LLC purchased a new stake in RB Global during the 2nd quarter worth about $514,871,000. Royal Bank of Canada lifted its holdings in shares of RB Global by 13.1% in the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider's stock worth $483,432,000 after buying an additional 585,617 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of RB Global by 7.0% in the first quarter. Janus Henderson Group PLC now owns 4,371,610 shares of the business services provider's stock worth $418,876,000 after buying an additional 285,713 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Price Performance

RBA opened at $84.18 on Friday. RB Global has a 1 year low of $78.05 and a 1 year high of $119.33. 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 firm's fifty day moving average price is $83.75 and its two-hundred day moving average price is $98.18. The company has a market capitalization of $15.26 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 1.44 and a beta of 0.53.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.21 billion. As a group, analysts anticipate that RB Global will post 4.06 earnings per share for the current fiscal year.

RB Global Company Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.

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