RB Global's (RBA) Equal Weight Rating Reaffirmed at Stephens

Key Points

• Stephens reaffirmed an "equal weight" rating on RB Global with a $96 price target, implying roughly a 10.35% downside from the current share price.
• Overall analyst sentiment is more positive: seven analysts rate the stock a Buy and one a Hold, giving a consensus rating of "Moderate Buy" and a consensus price target of $125.13.
• RB Global recently beat quarterly expectations, reporting $1.11 EPS vs. $0.99 expected and revenue of $1.20B (up 5.4% year‑over‑year), supporting the bullish analyst views.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA's stock had its "equal weight" rating restated by research analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $96.00 price target on the business services provider's stock. Stephens' price target suggests a potential downside of 10.35% from the company's current price.

A number of other brokerages have also commented on RBA. Raymond James Financial boosted their price objective on RB Global from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, January 20th. BMO Capital Markets reissued an "outperform" rating on shares of RB Global in a report on Tuesday. Weiss Ratings raised RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 26th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of RB Global in a report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.13.

RB Global Stock Up 2.0%

RBA traded up $2.07 during midday trading on Tuesday, reaching $107.08. 478,719 shares of the company were exchanged, compared to its average volume of 1,380,877. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. The company's fifty day moving average price is $100.81 and its 200 day moving average price is $103.41. The company has a market cap of $19.91 billion, a price-to-earnings ratio of 52.41, a price-to-earnings-growth ratio of 1.59 and a beta of 0.57. RB Global has a one year low of $93.58 and a one year high of $119.58.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.12. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. As a group, analysts expect that RB Global will post 4.04 EPS for the current year.

Insider Activity

In other RB Global news, Director Deborah Stein bought 400 shares of RB Global stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $98.74 per share, with a total value of $39,496.00. Following the completion of the acquisition, the director directly owned 1,400 shares in the company, valued at approximately $138,236. The trade was a 40.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RB Global

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in RB Global by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider's stock valued at $2,744,455,000 after purchasing an additional 124,926 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider's stock valued at $1,120,479,000 after purchasing an additional 165,260 shares during the period. EdgePoint Investment Group Inc. grew its holdings in RB Global by 11.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider's stock valued at $792,934,000 after purchasing an additional 821,319 shares during the period. State Street Corp grew its holdings in RB Global by 1.7% during the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider's stock valued at $647,118,000 after purchasing an additional 104,286 shares during the period. Finally, Geode Capital Management LLC grew its holdings in RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider's stock valued at $513,930,000 after purchasing an additional 250,887 shares during the period. 95.37% of the stock is owned by 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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