Robert W. Baird Issues Positive Forecast for RB Global (NYSE:RBA) Stock Price

RB Global (NYSE:RBA - Get Free Report) TSE: RBA had its price target hoisted by investment analysts at Robert W. Baird from $105.00 to $110.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the business services provider's stock. Robert W. Baird's target price indicates a potential upside of 7.21% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. StockNews.com raised RB Global from a "hold" rating to a "buy" rating in a research note on Monday, January 27th. BMO Capital Markets raised their price objective on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Finally, CIBC reduced their price objective on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $107.64.

RB Global Trading Down 0.9 %

RBA stock traded down $0.92 during mid-day trading on Wednesday, reaching $102.61. The company's stock had a trading volume of 1,232,000 shares, compared to its average volume of 1,036,294. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 4.36 and a beta of 0.96. The business's 50 day moving average price is $91.78 and its 200 day moving average price is $88.25. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global has a 12 month low of $67.15 and a 12 month high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced 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 net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business posted $0.82 EPS. On average, equities research analysts predict that RB Global will post 2.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CoreCap Advisors LLC boosted its position in shares of 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 buying an additional 117 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in RB Global in the fourth quarter worth $27,000. Versant Capital Management Inc boosted its position in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp boosted its position in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after purchasing an additional 129 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in RB Global in the fourth quarter worth $37,000. Hedge funds and other 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.