RB Global (NYSE:RBA) Upgraded by Stephens to Hold Rating

Key Points

• Stephens upgraded RB Global (RBA) to a Hold; despite that, the consensus across analysts is a Moderate Buy with an average price target of $125.13 after several firms raised targets and issued Outperform/Buy ratings.
• RB Global beat quarterly estimates with EPS $1.11 vs. $0.99 expected and revenue of $1.20B vs. $1.17B, a 5.4% year-over-year revenue increase.
• Insider and institutional activity: a director purchased 400 shares at $98.74 while the CEO sold 20,742 shares at $115, and institutions now own roughly 95.37% of the stock with notable increases by Goldman Sachs, AQR and others.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA was upgraded by investment analysts at Stephens to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Several other equities analysts have also recently commented on RBA. Royal Bank Of Canada boosted their target price on shares of RB Global from $137.00 to $146.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Raymond James Financial boosted their target price on shares of RB Global from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, January 20th. BMO Capital Markets upped their price objective on shares of RB Global from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings raised shares of RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 26th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, RB Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.13.

RB Global Price Performance

Shares of NYSE:RBA opened at $104.37 on Thursday. The firm has a 50 day moving average of $101.29 and a 200-day moving average of $103.52. The stock has a market capitalization of $19.40 billion, a PE ratio of 51.16, a PEG ratio of 1.57 and a beta of 0.57. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. RB Global has a 12 month low of $93.58 and a 12 month high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.99 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. On average, equities research analysts predict that RB Global will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein purchased 400 shares of the stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $98.74 per share, for a total transaction of $39,496.00. Following the completion of the acquisition, the director owned 1,400 shares of the company's stock, valued at approximately $138,236. This represents a 40.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Francis Kessler sold 20,742 shares of the company's stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares of the company's stock, valued at $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RBA. AQR Capital Management LLC grew its holdings in RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider's stock worth $1,031,000 after acquiring an additional 5,090 shares during the last quarter. NewEdge Advisors LLC grew its holdings in RB Global by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider's stock worth $59,000 after acquiring an additional 204 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in RB Global by 857.9% during the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider's stock worth $375,000 after acquiring an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in RB Global by 35.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider's stock worth $33,940,000 after acquiring an additional 88,813 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in RB Global during the 1st quarter worth approximately $4,103,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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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