Stephens Initiates Coverage on RB Global (NYSE:RBA)

Investment analysts at Stephens assumed coverage on shares of RB Global (NYSE:RBA) (TSE:RBA) in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage set an “equal weight” rating and a $96.00 price target on the business services provider’s stock. Stephens’ target price would suggest a potential downside of 7.05% from the stock’s current price.

Several other equities analysts also recently weighed in on RBA. BMO Capital Markets lifted their price target on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Royal Bank Of Canada lifted their price target on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Finally, Raymond James Financial lifted their price target on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.13.

RB Global Stock Performance

RBA opened at $103.28 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 50.63, a PEG ratio of 1.58 and a beta of 0.57. The company’s 50 day moving average is $101.56 and its 200 day moving average is $103.54. RB Global has a 12-month low of $93.58 and a 12-month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that RB Global will post 2.5 EPS for the current year.

Insider Activity at RB Global

In related news, Director Deborah Stein acquired 400 shares of RB Global stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average price of $98.74 per share, for a total transaction of $39,496.00. Following the completion of the transaction, the director directly owned 1,400 shares in the company, valued at approximately $138,236. This represents a 40.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the sale, the chief executive officer owned 107,569 shares in the company, valued at approximately $12,370,435. The trade was a 16.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On RB Global

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of RB Global during the first quarter valued at approximately $2,277,000. Bayban bought a new stake in shares of RB Global during the fourth quarter valued at approximately $34,000. MidFirst Bank bought a new stake in shares of RB Global during the fourth quarter valued at approximately $6,834,000. MV Capital Management Inc. bought a new stake in shares of RB Global during the fourth quarter valued at approximately $29,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of RB Global by 6,120,490.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock valued at $251,851,000 after buying an additional 2,448,196 shares during the last quarter. 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.