RB Global (NYSE:RBA) Upgraded to Buy at StockNews.com

RB Global (NYSE:RBA - Get Free Report) TSE: RBA was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

A number of other research firms have also commented on RBA. National Bankshares reduced their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Raymond James lifted their price objective on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Royal Bank of Canada upped their target price on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. CIBC raised their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. Finally, Robert W. Baird lifted their price target 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 research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

RB Global Stock Up 0.4%

RBA stock opened at $108.64 on Tuesday. The stock has a 50-day simple moving average of $99.16 and a two-hundred day simple moving average of $95.80. RB Global has a twelve month low of $70.27 and a twelve month high of $108.78. The firm has a market capitalization of $20.11 billion, a PE ratio of 54.05, a PEG ratio of 4.95 and a beta of 0.78. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. RB Global's revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts predict that RB Global will post 2.5 EPS for the current fiscal year.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. The trade was a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This trade represents a 27.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,472 shares of company stock worth $3,867,745. 4.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

A number of large investors have recently bought and sold shares of the stock. CoreCap Advisors LLC increased its stake in shares of 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 buying an additional 117 shares during the period. SouthState Corp purchased a new position in shares of RB Global in the first quarter valued at about $26,000. MV Capital Management Inc. raised its stake in shares of RB Global by 5,560.0% during the first 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. SVB Wealth LLC bought a new position in shares of RB Global during the first quarter valued at about $28,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after purchasing an additional 129 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

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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