RB Global (NYSE:RBA) Price Target Cut to $115.00 by Analysts at National Bankshares

RB Global (NYSE:RBA) (TSE:RBA) had its price objective dropped by equities research analysts at National Bankshares from $118.00 to $115.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. National Bankshares’ price target suggests a potential upside of 21.40% from the stock’s current price.

RBA has been the topic of a number of other research reports. BMO Capital Markets raised their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Robert W. Baird raised their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, CIBC reduced their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and an average price target of $108.56.

RB Global Stock Performance

NYSE:RBA traded up $5.09 during trading hours on Wednesday, reaching $94.73. 1,165,699 shares of the stock were exchanged, compared to its average volume of 1,060,478. RB Global has a 52 week low of $69.83 and a 52 week high of $106.90. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $17.51 billion, a P/E ratio of 47.13, a P/E/G ratio of 4.95 and a beta of 0.90. The firm has a 50 day simple moving average of $97.16 and a 200-day simple moving average of $92.02.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm earned $0.82 EPS. As a group, sell-side analysts forecast that RB Global will post 2.5 earnings per share for the current fiscal year.

Insider Activity at RB Global

In other news, CRO James J. Jeter sold 600 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the sale, the executive now owns 19,667 shares in the company, valued at $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock worth $2,338,161 in the last 90 days. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

Several large investors have recently made changes to their positions in the business. CoreCap Advisors LLC lifted its stake in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the 4th quarter valued at $27,000. Versant Capital Management Inc boosted its stake in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of RB Global during the fourth quarter worth $36,000. Institutional investors own 95.37% of the company’s stock.

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.