RB Global (NYSE:RBA) Price Target Raised to $113.00

Key Points

• RB Global's target price has been increased by National Bankshares from $112.00 to $113.00, indicating a potential upside of 1.85% from its previous close.
• Multiple research firms have issued optimistic ratings for RB Global, with price targets ranging from $130.00 to $135.00, and an average consensus price target of $119.79.
• Insider trading activity includes CEO James Francis Kessler selling 45,658 shares, resulting in a significant decrease in their ownership of the stock.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA had its target price increased by National Bankshares from $112.00 to $113.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the business services provider's stock. National Bankshares' price objective suggests a potential upside of 1.85% from the company's previous close.

Several other research firms also recently commented on RBA. BMO Capital Markets reiterated an "outperform" rating and issued a $130.00 price objective (up previously from $125.00) on shares of RB Global in a report on Thursday. Royal Bank Of Canada boosted their target price on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research note on Thursday. Raymond James Financial increased their price target on RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Finally, Robert W. Baird lifted their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, RB Global presently has an average rating of "Moderate Buy" and a consensus price target of $119.79.

RB Global Trading Up 2.0%

Shares of NYSE:RBA traded up $2.17 during midday trading on Thursday, reaching $110.95. The company's stock had a trading volume of 1,481,795 shares, compared to its average volume of 1,073,761. The firm has a market capitalization of $20.58 billion, a price-to-earnings ratio of 54.63, a PEG ratio of 2.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. The firm has a 50 day moving average price of $106.81 and a two-hundred day moving average price of $101.28. RB Global has a fifty-two week low of $77.79 and a fifty-two week high of $113.37.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $0.94 earnings per share. RB Global's revenue was up 8.2% on a year-over-year basis. As a group, analysts forecast that RB Global will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares of the company's stock, valued at $11,832,590. The trade was a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew John Fesler sold 9,075 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the transaction, the insider directly owned 5,532 shares of the company's stock, valued at approximately $579,311.04. This represents a 62.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,133 shares of company stock valued at $7,843,729. 4.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On RB Global

Large investors have recently made changes to their positions in the business. Aviva PLC boosted its stake in RB Global by 8.2% during the 2nd quarter. Aviva PLC now owns 131,717 shares of the business services provider's stock valued at $13,991,000 after acquiring an additional 10,014 shares during the last quarter. Metis Global Partners LLC lifted its position in RB Global by 7.8% in the 2nd quarter. Metis Global Partners LLC now owns 6,223 shares of the business services provider's stock valued at $661,000 after purchasing an additional 450 shares during the last quarter. Savant Capital LLC bought a new stake in shares of RB Global during the second quarter valued at about $310,000. Twin Capital Management Inc. bought a new stake in shares of RB Global during the 2nd quarter worth about $1,273,000. Finally, SouthState Corp raised its position in shares of RB Global by 75.6% during the 2nd quarter. SouthState Corp now owns 453 shares of the business services provider's stock worth $48,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.