RB Global (NYSE:RBA) Price Target Raised to $121.00

RB Global (NYSE:RBA - Get Free Report) TSE: RBA had its price target upped by stock analysts at CIBC from $118.00 to $121.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "outperformer" rating on the business services provider's stock. CIBC's target price points to a potential upside of 9.99% from the stock's current price.

RBA has been the subject of a number of other reports. Robert W. Baird lifted their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. National Bankshares dropped their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Royal Bank Of Canada set a $125.00 price objective on shares of RB Global and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.21.

RB Global Trading Down 0.3%

Shares of RBA traded down $0.34 during trading on Friday, reaching $110.01. 677,658 shares of the company traded hands, compared to its average volume of 958,904. RB Global has a twelve month low of $70.38 and a twelve month high of $111.66. The stock has a market cap of $20.37 billion, a PE ratio of 54.19, a price-to-earnings-growth ratio of 2.52 and a beta of 0.77. The stock has a 50-day simple moving average of $106.25 and a 200-day simple moving average of $99.48. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

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

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 7,400 shares of RB Global 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 $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares in the company, valued at $2,736,140. The trade was a 22.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 45,658 shares of RB Global 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 $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. This represents a 29.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,133 shares of company stock valued at $7,843,729 over the last ninety days. 4.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in RB Global by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock worth $2,248,060,000 after acquiring an additional 358,752 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of RB Global by 3.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock worth $1,027,191,000 after buying an additional 352,530 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of RB Global by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock worth $357,434,000 after buying an additional 264,778 shares during the last quarter. Fiera Capital Corp lifted its position in shares of RB Global by 17.3% during the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock worth $379,150,000 after buying an additional 557,407 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of RB Global by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock worth $307,033,000 after buying an additional 19,895 shares during the last quarter. 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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