RB Global (NYSE:RBA) Now Covered by Stephens

Key Points

• Stephens initiated coverage on RB Global with an equal weight rating and a $96 price target, implying roughly a 7.05% downside from the prior close.
• Most other analysts are bullish—seven Buys and one Hold—giving a consensus rating of Moderate Buy and a consensus price target of $125.13.
• RB Global beat quarterly expectations (EPS $1.11 vs. $0.99; revenue $1.20B vs. $1.17B) with 5.4% YoY revenue growth, while insiders showed mixed activity: a director bought shares and the CEO sold a sizable stake.

Analysts at Stephens initiated coverage on shares of RB Global (NYSE:RBA - Get Free Report) TSE: RBA in a report released on Friday,Benzinga reports. The firm set an "equal weight" rating and a $96.00 price target on the business services provider's stock. Stephens' target price would indicate a potential downside of 7.05% from the company's previous close.

Other analysts have also issued reports about the stock. Raymond James Financial raised their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, January 20th. Royal Bank Of Canada raised their price objective on shares of RB Global from $137.00 to $146.00 and gave the company an "outperform" rating in a research note on Wednesday, February 18th. BMO Capital Markets raised their price objective on shares of RB Global from $135.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings raised shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 26th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $125.13.

RB Global Stock Down 0.4%

NYSE:RBA opened at $103.28 on Friday. The firm has a market cap of $19.20 billion, a P/E ratio of 50.63, a P/E/G ratio of 1.58 and a beta of 0.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. RB Global has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The firm has a 50-day simple moving average of $101.56 and a two-hundred day simple moving average of $103.54.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.12. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. RB Global's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. Analysts predict that RB Global will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at RB Global

In related news, Director Deborah Stein purchased 400 shares of the company's stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average price of $98.74 per share, with a total value of $39,496.00. Following the acquisition, the director directly owned 1,400 shares in the company, valued at $138,236. The trade was a 40.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 20,742 shares of the firm's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the sale, the chief executive officer directly owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On RB Global

Institutional investors and hedge funds have recently made changes to their positions in the business. MV Capital Management Inc. purchased a new position in shares of RB Global in the fourth quarter worth approximately $29,000. Bayban purchased a new position in shares of RB Global in the fourth quarter worth approximately $34,000. Central Pacific Bank Trust Division boosted its holdings in shares of RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider's stock worth $37,000 after buying an additional 107 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of RB Global by 1,090.6% in the third quarter. Spire Wealth Management now owns 381 shares of the business services provider's stock worth $41,000 after buying an additional 349 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of RB Global in the second quarter worth approximately $46,000. Hedge funds and other institutional investors own 95.37% of the company's stock.

About RB Global

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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