RB Global (NYSE:RBA) Upgraded at Barclays

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by equities research analysts at Barclays to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Stephens reiterated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RB Global in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada increased their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $126.13.

RB Global Stock Performance

NYSE:RBA opened at $105.87 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. RB Global has a 12-month low of $93.58 and a 12-month high of $119.58. The stock has a 50-day moving average price of $101.79 and a 200 day moving average price of $103.89. The stock has a market capitalization of $19.68 billion, a P/E ratio of 49.24, a P/E/G ratio of 1.66 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that RB Global will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the purchase, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On RB Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in RB Global during the fourth quarter valued at approximately $29,000. Bayban bought a new position in RB Global during the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division boosted its stake in RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after buying an additional 107 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in RB Global during the first quarter valued at approximately $43,000. Finally, State of Wyoming bought a new position in RB Global during the second quarter valued at approximately $46,000. 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.