RB Global (NYSE:RBA) Raised to “Buy” at Wall Street Zen

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

Other research analysts also recently issued research reports about the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of RB Global in a report on Tuesday, May 26th. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price for the company in a report on Tuesday. Stephens restated an “equal weight” rating and set a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. Barclays began coverage on RB Global in a research note on Thursday, May 28th. They issued an “overweight” rating and a $124.00 price target on the stock. Finally, Royal Bank Of Canada boosted their price objective on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $126.12.

RB Global Price Performance

Shares of NYSE:RBA opened at $112.72 on Friday. The stock has a market cap of $20.96 billion, a PE ratio of 52.43, a PEG ratio of 1.76 and a beta of 0.55. The company’s fifty day moving average is $106.89 and its 200 day moving average is $105.66. RB Global has a 52 week low of $93.58 and a 52 week high of $119.58. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $888.01 million during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts anticipate that RB Global will post 4.16 earnings per share for the current year.

Insider Activity

In other RB Global news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the acquisition, the director directly owned 1,825 shares in the company, valued at $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Institutional Trading of RB Global

Large investors have recently added to or reduced their stakes in the stock. Personal CFO Solutions LLC increased its position in RB Global by 0.9% during the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 96 shares during the period. Covestor Ltd lifted its position in shares of RB Global by 11.6% in the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock worth $96,000 after purchasing an additional 97 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of RB Global by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 105 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after buying an additional 107 shares during the period. 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.