Raymond James Forecasts Strong Price Appreciation for RB Global (NYSE:RBA) Stock

RB Global (NYSE:RBA) (TSE:RBA) had its price objective upped by equities researchers at Raymond James from $110.00 to $118.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Raymond James’ price objective would indicate a potential upside of 12.29% from the company’s current price.

RBA has been the topic of several other research reports. Robert W. Baird upped their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. CIBC reduced their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. BMO Capital Markets boosted their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada boosted their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $105.79.

RB Global Stock Up 8.8 %

Shares of RB Global stock traded up $8.53 during trading on Wednesday, reaching $105.09. The stock had a trading volume of 1,423,477 shares, compared to its average volume of 960,279. The company has a market capitalization of $19.41 billion, a price-to-earnings ratio of 57.10, a P/E/G ratio of 4.01 and a beta of 0.96. The stock has a fifty day moving average price of $91.45 and a two-hundred day moving average price of $87.87. RB Global has a 52 week low of $65.99 and a 52 week high of $106.90. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results 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 9.06% and a return on equity of 7.41%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm earned $0.82 earnings per share. Sell-side analysts predict that RB Global will post 1.96 EPS for the current fiscal year.

Institutional Trading of RB Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after buying an additional 358,752 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after acquiring an additional 753,700 shares in the last quarter. State Street Corp grew its holdings in shares of RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after acquiring an additional 103,080 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of RB Global by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after acquiring an additional 264,778 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of RB Global by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock valued at $307,033,000 after acquiring an additional 19,895 shares in the last quarter. 95.37% of the stock is 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.