RB Global (NYSE:RBA) Upgraded by Weiss Ratings to Buy (B-) Rating

RB Global (NYSE:RBA - Get Free Report) TSE: RBA was upgraded by equities research analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the stock. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Raymond James Financial upped their target price on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets upped their target price on shares of RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. CIBC upped their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada increased their price objective on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.33.

RB Global Price Performance

Shares of RB Global stock opened at $105.73 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 52.34, a P/E/G ratio of 2.46 and a beta of 0.65. RB Global has a 1-year low of $78.55 and a 1-year high of $119.58. The firm's 50-day moving average price is $113.41 and its two-hundred day moving average price is $106.84.

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

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 45,658 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the sale, the chief executive officer directly 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 sale was disclosed in a legal filing 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 on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $814,000.00. Following the sale, the insider owned 24,874 shares in the company, valued at approximately $2,736,140. The trade was a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,209 shares of company stock worth $6,090,521. Company insiders own 4.32% of the company's stock.

Institutional Investors Weigh In On RB Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. raised its holdings in shares of RB Global by 122.2% during the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider's stock worth $770,000 after acquiring an additional 4,222 shares during the period. GAMMA Investing LLC raised its holdings in shares of RB Global by 28.6% during the first quarter. GAMMA Investing LLC now owns 1,608 shares of the business services provider's stock worth $161,000 after acquiring an additional 358 shares during the period. Voya Investment Management LLC raised its holdings in shares of RB Global by 12.8% during the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider's stock worth $3,389,000 after acquiring an additional 3,847 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after acquiring an additional 104 shares during the period. Finally, Kathmere Capital Management LLC acquired a new stake in shares of RB Global during the second quarter worth $476,000. 95.37% of the stock is currently 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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