RB Global (NYSE:RBA) Price Target Raised to $89.00

RB Global (NYSE:RBA - Get Free Report) TSE: RBA had its price objective hoisted by stock analysts at Scotiabank from $88.00 to $89.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "sector outperform" rating on the business services provider's stock. Scotiabank's target price suggests a potential upside of 21.30% from the stock's current price.

RBA has been the topic of a number of other reports. Royal Bank of Canada lifted their target price on shares of RB Global from $75.00 to $93.00 and gave the company an "outperform" rating in a report on Monday, February 26th. StockNews.com raised shares of RB Global from a "sell" rating to a "hold" rating in a report on Friday, February 9th. Finally, Raymond James lifted 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.00.

RB Global Stock Up 0.2 %

RBA stock traded up $0.13 during midday trading on Wednesday, reaching $73.37. 451,168 shares of the company were exchanged, compared to its average volume of 812,304. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35. RB Global has a 1-year low of $51.07 and a 1-year high of $77.99. The stock's 50-day simple moving average is $74.33 and its 200 day simple moving average is $68.01. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 85.95, a price-to-earnings-growth ratio of 5.48 and a beta of 0.87.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data 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. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm's revenue for the quarter was up 134.5% on a year-over-year basis. On average, equities analysts forecast that RB Global will post 1.9 earnings per share for the current year.

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of the business's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the sale, the insider now directly owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO James J. Jeter sold 11,416 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $76.32, for a total value of $871,269.12. Following the sale, the executive now directly owns 30,915 shares in the company, valued at approximately $2,359,432.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Darren Jeffrey Watt sold 1,100 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The disclosure for this sale can be found here. Insiders have sold a total of 14,816 shares of company stock worth $1,133,055 in the last three months. Insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On RB Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of RB Global in the 3rd quarter worth about $26,000. Headlands Technologies LLC acquired a new position in RB Global in the 3rd quarter valued at about $26,000. Oakworth Capital Inc. raised its stake in RB Global by 53.3% in 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 during the last quarter. GAMMA Investing LLC acquired a new position in RB Global in the 4th quarter valued at about $54,000. Finally, WASHINGTON TRUST Co acquired a new position in RB Global in the 3rd quarter valued at about $56,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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.