National Bankshares Issues Pessimistic Forecast for RB Global (NYSE:RBA) Stock Price

RB Global (NYSE:RBA) (TSE:RBA) had its price objective dropped by National Bankshares from $113.00 to $111.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the business services provider’s stock. National Bankshares’ price objective points to a potential upside of 6.73% from the stock’s current price.

Other analysts have also issued reports about the stock. Royal Bank Of Canada increased their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. CIBC increased their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a report on Friday, July 18th. Raymond James Financial upped their target price on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, BMO Capital Markets upped their target price on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

RB Global Stock Up 0.3%

Shares of RB Global stock opened at $104.00 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. RB Global has a 52-week low of $78.55 and a 52-week high of $119.58. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of 51.49, a P/E/G ratio of 2.41 and a beta of 0.65. The company’s 50 day moving average price is $113.23 and its 200-day moving average price is $106.89.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business earned $0.94 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that RB Global will post 2.5 EPS for the current year.

Insider Activity at RB Global

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of RB Global stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the transaction, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at approximately $11,832,590. This trade represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,209 shares of company stock valued at $6,090,521 in the last three months. Company insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBA. SouthState Corp bought a new position in RB Global during the 1st quarter valued at approximately $26,000. MV Capital Management Inc. grew its position in RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 278 shares during the last quarter. SVB Wealth LLC purchased a new stake in RB Global during the 1st quarter valued at about $28,000. IFP Advisors Inc grew its position in RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 279 shares during the last quarter. Finally, Rise Advisors LLC purchased a new stake in RB Global during the 1st quarter valued at about $38,000. 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.