Royal Bank of Canada Boosts RB Global (NYSE:RBA) Price Target to $99.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective upped by analysts at Royal Bank of Canada from $93.00 to $99.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 27.69% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. CIBC began coverage on shares of RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. Robert W. Baird upped their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday. Bank of America lifted their target price on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Finally, Scotiabank boosted their target price on shares of RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.29.

RB Global Trading Down 1.1 %

NYSE:RBA traded down $0.89 during trading hours on Wednesday, reaching $77.53. 363,815 shares of the stock were exchanged, compared to its average volume of 1,136,262. The business has a 50-day moving average of $77.56 and a two-hundred day moving average of $74.30. RB Global has a twelve month low of $55.67 and a twelve month high of $81.87. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 47.14, a PEG ratio of 5.11 and a beta of 0.91. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.58.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, May 9th. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, equities analysts predict that RB Global will post 2.04 EPS for the current year.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 8,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other RB Global news, insider Darren Jeffrey Watt sold 3,637 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total transaction of $293,360.42. Following the sale, the insider now directly owns 17,279 shares of the company’s stock, valued at approximately $1,393,724.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Francis Kessler sold 8,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the sale, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at approximately $6,319,394.64. The disclosure for this sale can be found here. Insiders have sold a total of 43,867 shares of company stock valued at $3,370,272 over the last three months. Company insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On RB Global

Institutional investors have recently bought and sold shares of the business. YHB Investment Advisors Inc. bought a new position in RB Global during the first quarter valued at approximately $27,000. Hollencrest Capital Management acquired a new position in RB Global during the first quarter worth $33,000. Massmutual Trust Co. FSB ADV raised its holdings in RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares in the last quarter. Oakworth Capital Inc. lifted its position in shares of RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after buying an additional 162 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of RB Global by 33.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.