RB Global (NYSE:RBA) Rating Increased to Buy at Wall Street Zen

Key Points

• RB Global has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased confidence in the company's stock.
• Analysts have raised their price targets for RB Global, with estimates now ranging from $121 to $135, reflecting a generally optimistic outlook for the company's performance.
• The company's most recent earnings report showed a profit of $1.07 per share, exceeding expectations and marking an 8.2% growth in revenue compared to the previous year.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Friday.

Several other equities analysts also recently commented on RBA. Raymond James Financial upped their price objective on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets upped their price objective on RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of RB Global in a report on Saturday, September 27th. Finally, CIBC upped their target price on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $124.33.

RB Global Price Performance

Shares of RBA traded up $0.42 during mid-day trading on Friday, hitting $108.32. 785,229 shares of the stock were exchanged, compared to its average volume of 1,248,092. The company has a market cap of $20.11 billion, a PE ratio of 53.63, a price-to-earnings-growth ratio of 2.51 and a beta of 0.65. RB Global has a 52-week low of $78.55 and a 52-week high of $119.58. The firm has a 50-day moving average of $113.54 and a two-hundred day moving average of $106.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities analysts predict that RB Global will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm'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 $814,000.00. Following the completion of the transaction, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,209 shares of company stock valued at $6,090,521 over the last ninety days. Company insiders own 4.32% of the company's stock.

Institutional Investors Weigh In On RB Global

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in RB Global by 18.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider's stock worth $441,000 after purchasing an additional 752 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of RB Global by 12,802.6% in the 1st quarter. GAMMA Investing LLC now owns 161,282 shares of the business services provider's stock valued at $16,177,000 after purchasing an additional 160,032 shares during the last quarter. UMB Bank n.a. raised its stake in RB Global by 121.1% during the 1st quarter. UMB Bank n.a. now owns 2,074 shares of the business services provider's stock valued at $208,000 after acquiring an additional 1,136 shares during the last quarter. MV Capital Management Inc. raised its stake in RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after acquiring an additional 278 shares during the last quarter. Finally, Paragon Capital Management Ltd purchased a new stake in RB Global during the 1st quarter valued at approximately $224,000. 95.37% of the stock is owned by institutional investors and hedge funds.

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.

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