RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.
Other equities analysts have also issued reports about the stock. National Bank Financial boosted their price target on shares of RB Global from $61.00 to $70.00 in a research report on Monday, July 10th. OTR Global upgraded RB Global to a “positive” rating in a research report on Thursday, May 4th. Royal Bank of Canada increased their price target on RB Global from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Raymond James raised RB Global from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $75.00 in a research note on Thursday, July 20th. Finally, National Bankshares upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $66.25.
RB Global Price Performance
Shares of RBA stock traded up $0.68 during mid-day trading on Friday, hitting $62.40. 694,638 shares of the stock were exchanged, compared to its average volume of 2,110,886. The company has a market cap of $11.36 billion, a PE ratio of 67.83, a price-to-earnings-growth ratio of 13.16 and a beta of 0.94. The firm has a fifty day moving average of $60.12 and a 200 day moving average of $58.02. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. RB Global has a 52-week low of $48.72 and a 52-week high of $71.96.
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last issued its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.17). RB Global had a net margin of 5.94% and a return on equity of 4.77%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Research analysts anticipate that RB Global will post 0.65 earnings per share for the current year.
Insider Buying and Selling at RB Global
In related news, Director Michael D. Sieger acquired 1,000 shares of RB Global stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $58.08 per share, for a total transaction of $58,080.00. Following the completion of the purchase, the director now directly owns 3,036 shares in the company, valued at approximately $176,330.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Michael D. Sieger purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $58.08 per share, with a total value of $58,080.00. Following the completion of the transaction, the director now owns 3,036 shares of the company’s stock, valued at $176,330.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Megan Anne Cash sold 13,596 shares of RB Global stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $61.78, for a total transaction of $839,960.88. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 5,411 shares of company stock valued at $313,870. Company insiders own 4.32% of the company’s stock.
Institutional Trading of RB Global
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Alliance boosted its holdings in shares of RB Global by 3.4% in the 2nd quarter. Wealth Alliance now owns 5,648 shares of the business services provider’s stock valued at $339,000 after buying an additional 187 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of RB Global by 5.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,388 shares of the business services provider’s stock worth $203,000 after purchasing an additional 189 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in RB Global by 1.6% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 14,874 shares of the business services provider’s stock valued at $892,000 after purchasing an additional 237 shares during the period. Mariner LLC grew its stake in RB Global by 2.4% during the 1st quarter. Mariner LLC now owns 10,469 shares of the business services provider’s stock worth $618,000 after buying an additional 248 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of RB Global by 11.6% during the first quarter. Fifth Third Bancorp now owns 2,541 shares of the business services provider’s stock worth $143,000 after acquiring an additional 264 shares during the last quarter. 90.24% of the stock is owned by institutional investors.
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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.