RB Global (NYSE:RBA) Upgraded by Stephens to Hold Rating

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

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada boosted their target price on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Raymond James Financial upped their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. BMO Capital Markets upped their price objective on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, RB Global currently has an average rating of “Moderate Buy” and a consensus target price of $125.13.

RB Global Trading Up 1.0%

RBA opened at $104.37 on Thursday. RB Global has a fifty-two week low of $93.58 and a fifty-two week high of $119.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02. The firm has a market capitalization of $19.40 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 1.57 and a beta of 0.57. The company’s 50 day moving average price is $101.29 and its two-hundred day moving average price is $103.52.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts predict that RB Global will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Deborah Stein acquired 400 shares of RB Global stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $98.74 per share, with a total value of $39,496.00. Following the purchase, the director owned 1,400 shares in the company, valued at $138,236. This trade represents a 40.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. The trade was a 16.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RBA. Caprock Group LLC acquired a new position in RB Global during the third quarter worth $1,724,000. Cibc World Market Inc. raised its holdings in RB Global by 60.7% during the third quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock worth $19,461,000 after buying an additional 67,860 shares during the last quarter. Fiera Capital Corp raised its holdings in RB Global by 4.9% during the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after buying an additional 190,408 shares during the last quarter. JCIC Asset Management Inc. acquired a new position in RB Global during the third quarter worth $3,621,000. Finally, TD Asset Management Inc raised its holdings in RB Global by 1.2% during the third quarter. TD Asset Management Inc now owns 949,779 shares of the business services provider’s stock worth $102,896,000 after buying an additional 10,877 shares during the last quarter. Institutional investors and hedge funds 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.