RB Global (NYSE:RBA) Stock Keeps Outperform Rating at Royal Bank Of Canada

RB Global (NYSE:RBA) (TSE:RBA)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank Of Canada in a report issued on Wednesday, September 23rd, Benzinga reports. They currently have a $152.00 price objective on the business services provider’s stock. Royal Bank Of Canada’s price target points to a potential upside of 87.52% from the stock’s previous close.

A number of other research analysts have also recently weighed in on RBA. Weiss Ratings cut shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target for the company in a report on Tuesday, June 30th. Finally, Barclays reduced their target price on RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.57.

RB Global Trading Down 0.4%

RB Global stock traded down $0.33 during midday trading on Wednesday, reaching $81.06. The stock had a trading volume of 28,045 shares, compared to its average volume of 1,418,964. The stock’s 50-day simple moving average is $90.58 and its 200 day simple moving average is $99.90. RB Global has a twelve month low of $79.75 and a twelve month high of $119.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The stock has a market capitalization of $14.69 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 1.38 and a beta of 0.52.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. Analysts expect that RB Global will post 4.06 EPS for the current year.

Insiders Place Their Bets

In other RB Global news, Director Chloe Harford purchased 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the transaction, the director owned 1,200 shares of the company’s stock, valued at approximately $100,488. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Deborah Stein acquired 500 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were acquired at an average price of $80.91 per share, with a total value of $40,455.00. Following the completion of the transaction, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On RB Global

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in RB Global during the second quarter valued at approximately $1,816,059,000. EdgePoint Investment Group Inc. raised its stake in RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock valued at $845,337,000 after purchasing an additional 1,111,217 shares during the last quarter. Jupiter Topco LLC bought a new stake in RB Global in the 2nd quarter valued at $514,871,000. Geode Capital Management LLC grew its position in RB Global by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock worth $513,930,000 after purchasing an additional 250,887 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of RB Global by 13.1% during the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock valued at $483,432,000 after buying an additional 585,617 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Company Profile

RB Global, Inc (NYSE: RBA) is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.