RB Global (NYSE:RBA) Stock Price Expected to Rise, CIBC Analyst Says

RB Global (NYSE:RBA - Get Free Report) TSE: RBA had its price objective upped by research analysts at CIBC from $118.00 to $121.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "outperformer" rating on the business services provider's stock. CIBC's price target would indicate a potential upside of 12.72% from the stock's previous close.

RBA has been the topic of a number of other research reports. Robert W. Baird lifted their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Royal Bank Of Canada set a $125.00 target price on RB Global and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Finally, Raymond James Financial lifted their target price on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $116.21.

RB Global Stock Down 0.5%

NYSE:RBA traded down $0.56 during trading hours on Friday, hitting $107.35. The stock had a trading volume of 1,114,222 shares, compared to its average volume of 959,338. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. RB Global has a 1-year low of $70.38 and a 1-year high of $111.71. The business has a 50 day simple moving average of $106.33 and a two-hundred day simple moving average of $99.75. The company has a market cap of $19.88 billion, a PE ratio of 52.88, a price-to-earnings-growth ratio of 2.54 and a beta of 0.77.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. Analysts predict that RB Global will post 2.5 EPS for the current year.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the sale, the chief executive officer owned 107,569 shares in the company, valued at $11,832,590. This trade represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the sale, the insider owned 24,874 shares in the company, valued at $2,736,140. The trade was a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,133 shares of company stock worth $7,843,729 in the last quarter. Company insiders own 0.28% of the company's stock.

Institutional Trading of RB Global

Several large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock worth $54,000 after purchasing an additional 97 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in RB Global by 0.7% in the 1st quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock worth $1,408,000 after buying an additional 100 shares during the period. Nisa Investment Advisors LLC boosted its holdings in RB Global by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after buying an additional 104 shares during the period. Wealth Alliance LLC boosted its holdings in RB Global by 2.7% in the 1st quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider's stock worth $399,000 after buying an additional 104 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in RB Global by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock worth $3,674,000 after buying an additional 113 shares during the period. 95.37% of the stock is owned by 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.