RB Global (NYSE:RBA) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

RB Global (NYSE:RBA) (TSE:RBA) issued its quarterly earnings data on Monday. The business services provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.02), Zacks reports. RB Global had a net margin of 9.33% and a return on equity of 11.12%.

RB Global Stock Up 0.2%

NYSE:RBA traded up $0.18 during trading hours on Monday, reaching $105.06. 1,406,112 shares of the stock were exchanged, compared to its average volume of 1,393,160. RB Global has a twelve month low of $93.58 and a twelve month 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 50 day moving average of $100.81 and a 200 day moving average of $103.41. The stock has a market cap of $19.53 billion, a PE ratio of 51.50, a PEG ratio of 1.59 and a beta of 0.57.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RBA. Royal Bank Of Canada lifted their price target on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Raymond James Financial raised their price objective on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. BMO Capital Markets boosted their price objective on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Stephens assumed coverage on shares of RB Global in a research note on Friday, April 17th. They issued an “equal weight” rating and a $96.00 target price for the company. Finally, Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.13.

Insider Activity

In other RB Global news, Director Deborah Stein acquired 400 shares of the stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $98.74 per share, for a total transaction of $39,496.00. Following the completion of the acquisition, the director directly owned 1,400 shares of the company’s stock, valued at approximately $138,236. This trade represents a 40.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in RB Global in the 2nd quarter valued at $46,000. Geneos Wealth Management Inc. boosted its stake in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 204 shares in the last quarter. Sfam LLC bought a new position in shares of RB Global in the 4th quarter valued at about $82,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of RB Global by 437.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 779 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 634 shares during the last quarter. 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.