RB Global, Inc. (NYSE:RBA) Receives $108.56 Average Price Target from Analysts

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have been assigned an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $108.56.

Several equities analysts have issued reports on the stock. CIBC lowered their target price on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. StockNews.com cut shares of RB Global from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. National Bankshares decreased their target price on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Robert W. Baird raised their price target on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Raymond James upped their price objective on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th.

RB Global Stock Up 1.3 %

RB Global stock traded up $1.27 during trading hours on Tuesday, hitting $98.24. The stock had a trading volume of 732,515 shares, compared to its average volume of 1,079,472. The stock's 50-day moving average price is $98.30 and its 200-day moving average price is $93.15. RB Global has a 12-month low of $69.83 and a 12-month 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 $18.16 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. Equities research analysts anticipate that RB Global will post 2.5 EPS for the current fiscal year.

Insider Transactions at RB Global

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

Institutional Trading of RB Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of RB Global by 0.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock valued at $3,674,000 after buying an additional 113 shares during the period. CoreCap Advisors LLC boosted its holdings in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after acquiring an additional 117 shares during the period. Jones Financial Companies Lllp grew its position in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after acquiring an additional 129 shares during the last quarter. Summit Trail Advisors LLC grew its position in RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock valued at $279,000 after acquiring an additional 137 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of RB Global by 25.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider's stock worth $64,000 after purchasing an additional 143 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

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.