RB Global (NYSE:RBA) Upgraded by StockNews.com to Buy Rating

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other analysts have also commented on the company. BMO Capital Markets boosted their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James upped their target price on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird upped their target price on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, CIBC dropped 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Trading Down 0.7 %

NYSE:RBA traded down $0.72 on Tuesday, reaching $97.26. The company’s stock had a trading volume of 1,058,720 shares, compared to its average volume of 1,010,539. RB Global has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a market cap of $17.97 billion, a PE ratio of 48.39, a PEG ratio of 4.95 and a beta of 0.94. The business’s 50-day moving average price is $94.80 and its two-hundred day moving average price is $90.61.

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

Hedge Funds Weigh In On RB Global

Institutional investors and hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC grew its position in shares of RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in RB Global in the 4th quarter valued at $27,000. Versant Capital Management Inc raised its holdings in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 176 shares in the last quarter. Jones Financial Companies Lllp raised its holdings 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 in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in RB Global in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.