RB Global (NYSE:RBA) Given New $89.00 Price Target at Scotiabank

RB Global (NYSE:RBA) (TSE:RBA) had its target price lifted by Scotiabank from $88.00 to $89.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a sector outperform rating on the business services provider’s stock.

A number of other analysts have also weighed in on the company. StockNews.com raised RB Global from a sell rating to a hold rating in a research note on Friday, February 9th. Royal Bank of Canada increased their price objective on RB Global from $75.00 to $93.00 and gave the company an outperform rating in a research note on Monday, February 26th. Finally, Raymond James increased their price objective on RB Global from $78.00 to $90.00 and gave the company an outperform rating in a research note on Monday, February 26th. One equities 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.com, RB Global currently has an average rating of Moderate Buy and an average target price of $83.00.

RB Global Trading Down 0.2 %

Shares of RBA opened at $73.18 on Wednesday. The business’s 50-day moving average price is $74.59 and its 200-day moving average price is $68.13. RB Global has a twelve month low of $51.07 and a twelve month high of $77.99. The stock has a market cap of $13.37 billion, a PE ratio of 86.09, a P/E/G ratio of 5.51 and a beta of 0.87. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Friday, February 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.14. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. RB Global had a net margin of 5.61% and a return on equity of 4.19%. RB Global’s revenue for the quarter was up 134.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. On average, equities analysts forecast that RB Global will post 1.9 EPS for the current fiscal year.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 11,416 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares in the company, valued at $2,359,432.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total value of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares in the company, valued at $2,359,432.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 2,300 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $76.97, for a total value of $177,031.00. Following the completion of the transaction, the insider now owns 21,103 shares of the company’s stock, valued at approximately $1,624,297.91. The disclosure for this sale can be found here. Insiders sold a total of 14,816 shares of company stock worth $1,133,055 over the last quarter. 4.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RB Global

Institutional investors have recently added to or reduced their stakes in the company. Mariner LLC raised its holdings in RB Global by 3.6% in the third quarter. Mariner LLC now owns 27,567 shares of the business services provider’s stock worth $1,723,000 after purchasing an additional 946 shares in the last quarter. Triasima Portfolio Management inc. increased its holdings in shares of RB Global by 1,152.4% during the fourth quarter. Triasima Portfolio Management inc. now owns 193,118 shares of the business services provider’s stock valued at $12,947,000 after acquiring an additional 177,698 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of RB Global by 487.6% during the fourth quarter. Vontobel Holding Ltd. now owns 158,329 shares of the business services provider’s stock valued at $10,591,000 after acquiring an additional 131,383 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of RB Global by 10.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock valued at $645,007,000 after acquiring an additional 977,171 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of RB Global by 49.2% during the third quarter. FMR LLC now owns 42,443 shares of the business services provider’s stock valued at $2,656,000 after acquiring an additional 13,987 shares in the last quarter. Institutional investors 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.