RB Global (NYSE:RBA) Given New $111.00 Price Target at National Bankshares

Key Points

• RB Global's price target was downgraded by National Bankshares from $113.00 to $111.00, suggesting a potential upside of 7.35% from its previous close.
• Royal Bank of Canada raised their price target for RB Global to $132.00 with an "outperform" rating, amid generally positive analyst sentiment as five analysts have rated the stock as a Buy.
• RB Global reported a net margin of 9.46% and earnings per share of $1.07, exceeding analysts' expectations and indicating 8.2% year-over-year revenue growth.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA had its target price cut by research analysts at National Bankshares from $113.00 to $111.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the business services provider's stock. National Bankshares' price target would suggest a potential upside of 7.35% from the company's previous close.

A number of other brokerages have also weighed in on RBA. Royal Bank Of Canada lifted their price target on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of RB Global from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Raymond James Financial increased their target price on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Weiss Ratings raised shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Finally, BMO Capital Markets increased their price objective on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.00.

RB Global Price Performance

RBA stock traded down $2.29 during trading on Thursday, hitting $103.40. 604,849 shares of the stock traded hands, compared to its average volume of 1,080,892. RB Global has a one year low of $78.55 and a one year high of $119.58. The stock has a market cap of $19.20 billion, a price-to-earnings ratio of 51.14, a P/E/G ratio of 2.46 and a beta of 0.65. The company has a 50 day simple moving average of $113.41 and a 200 day simple moving average of $106.84. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The company's revenue was up 8.2% on a year-over-year basis. Equities analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at RB Global

In related news, insider Darren Jeffrey Watt sold 7,400 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the completion of the transaction, the insider directly owned 24,874 shares in the company, valued at approximately $2,736,140. The trade was a 22.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The disclosure for this sale can be found here. Insiders sold a total of 55,209 shares of company stock worth $6,090,521 in the last three months. 4.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in RB Global by 18.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider's stock worth $441,000 after buying an additional 752 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of RB Global by 121.1% in the 1st quarter. UMB Bank n.a. now owns 2,074 shares of the business services provider's stock valued at $208,000 after buying an additional 1,136 shares during the period. GAMMA Investing LLC raised its holdings in shares of RB Global by 28.6% in the 1st quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock valued at $161,000 after buying an additional 358 shares during the period. MV Capital Management Inc. grew its stake in RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after purchasing an additional 278 shares in the last quarter. Finally, Paragon Capital Management Ltd acquired a new position in RB Global during the 1st quarter worth $224,000. 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.

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