RB Global (NYSE:RBA) Price Target Raised to $132.00

Key Points

• Royal Bank Of Canada raised its price target for RB Global from $125.00 to $132.00, indicating a potential upside of 19.18% from the company's previous close.
• RB Global's stock has an average rating of "Moderate Buy" with a consensus price target of $118.64, as multiple analysts have recently downgraded the stock from "buy" to "hold."
• The company reported earnings of $1.07 per share for the last quarter, surpassing the consensus estimate by $0.12, with revenues of $1.20 billion.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA had its price target increased by equities researchers at Royal Bank Of Canada from $125.00 to $132.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the business services provider's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 19.18% from the company's previous close.

Several other research firms also recently commented on RBA. Wall Street Zen downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. National Bankshares reduced their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird increased their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets increased their price objective on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $118.64.

RB Global Stock Performance

Shares of RBA stock traded up $1.98 on Thursday, reaching $110.76. The stock had a trading volume of 946,372 shares, compared to its average volume of 1,070,229. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average is $106.81 and its two-hundred day moving average is $101.28. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 54.40, a P/E/G ratio of 2.53 and a beta of 0.75. RB Global has a 12 month low of $77.79 and a 12 month high of $113.37.

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

Insider Transactions at RB Global

In other RB Global news, Director Adam Dewitt sold 800 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the transaction, the director owned 5,865 shares in the company, valued at approximately $622,687.05. This represents a 12.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 2,000 shares of RB Global stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $106.96, for a total value of $213,920.00. Following the transaction, the executive directly owned 14,167 shares of the company's stock, valued at $1,515,302.32. This trade represents a 12.37% 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 quarter. Insiders own 4.32% of the company's stock.

Institutional Trading of RB Global

A number of institutional investors have recently modified their holdings of the company. CoreCap Advisors LLC grew its position in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after acquiring an additional 117 shares in the last quarter. SouthState Corp bought a new position in RB Global during the first quarter worth $26,000. MV Capital Management Inc. increased its position in RB Global by 5,560.0% in the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after buying an additional 278 shares during the period. SVB Wealth LLC bought a new position in RB Global during the first quarter valued at about $28,000. Finally, IFP Advisors Inc boosted its stake in RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after buying an additional 279 shares in 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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