RB Global, Inc. (NYSE:RBA) Receives Average Recommendation of “Buy” from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $82.80.

RBA has been the topic of a number of research analyst reports. StockNews.com upgraded RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Royal Bank of Canada upped their price objective on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Scotiabank raised their target price on shares of RB Global from $76.00 to $88.00 and gave the company a “sector outperform” rating in a report on Monday, February 26th. Finally, Raymond James upped their price target on shares of RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, February 26th.

RB Global Trading Down 1.0 %

RBA stock opened at $72.49 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. RB Global has a 1-year low of $51.07 and a 1-year high of $77.99. The business has a 50 day simple moving average of $74.02 and a two-hundred day simple moving average of $67.74. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 85.28, a PEG ratio of 5.56 and a beta of 0.87.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. RB Global’s revenue for the quarter was up 134.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Research analysts anticipate that RB Global will post 1.88 EPS for the current fiscal year.

Insider Transactions at RB Global

In related news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now owns 30,915 shares in the company, valued at approximately $2,359,432.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the transaction, the executive now directly owns 30,915 shares in the company, valued at approximately $2,359,432.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 2,300 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.97, for a total transaction of $177,031.00. Following the completion of the sale, the insider now directly owns 21,103 shares in the company, valued at $1,624,297.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,816 shares of company stock worth $1,133,055. 4.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RB Global

Large investors have recently bought and sold shares of the business. Mariner LLC increased its stake in RB Global by 3.6% in the third quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock worth $1,723,000 after purchasing an additional 946 shares during the period. Triasima Portfolio Management inc. grew its holdings in shares of RB Global by 1,152.4% in the fourth quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock worth $12,947,000 after purchasing an additional 177,698 shares during the last quarter. Vontobel Holding Ltd. increased its stake in RB Global by 487.6% in the 4th quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider’s stock worth $10,591,000 after buying an additional 131,383 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in RB Global by 10.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock valued at $645,007,000 after buying an additional 977,171 shares in the last quarter. Finally, FMR LLC boosted its position in RB Global by 49.2% in the 3rd quarter. FMR LLC now owns 42,443 shares of the business services provider’s stock valued at $2,656,000 after buying an additional 13,987 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.