RB Global (NYSE:RBA) Raised to "Buy" at Wall Street Zen

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 note issued to investors on Tuesday.

A number of other brokerages have also issued reports on RBA. Raymond James increased their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. National Bankshares cut their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets boosted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird increased their target price on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

RB Global Price Performance

Shares of NYSE RBA traded down $1.30 during midday trading on Tuesday, reaching $107.24. The stock had a trading volume of 982,874 shares, compared to its average volume of 1,122,614. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. RB Global has a 12-month low of $70.27 and a 12-month high of $109.25. The stock has a 50-day moving average of $100.11 and a 200-day moving average of $96.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted $0.90 EPS. RB Global's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that RB Global will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at RB Global

In related news, insider Andrew John Fesler sold 9,075 shares of RB Global stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the transaction, the insider now directly owns 5,532 shares of the company's stock, valued at approximately $579,311.04. The trade was a 62.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 600 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the transaction, the executive now owns 19,667 shares of the company's stock, valued at $1,939,756.21. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,472 shares of company stock worth $3,867,745 over the last ninety days. Company insiders own 4.32% of the company's stock.

Institutional Investors Weigh In On RB Global

A number of institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC grew its stake in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after purchasing an additional 117 shares in the last quarter. SouthState Corp purchased a new stake in RB Global in the first quarter worth about $26,000. MV Capital Management Inc. lifted its stake 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 acquiring an additional 278 shares during the period. SVB Wealth LLC bought a new position in RB Global during the 1st quarter worth about $28,000. Finally, Jones Financial Companies Lllp increased its position in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after purchasing an additional 129 shares during the period. 95.37% of the stock is owned by institutional investors.

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.