Robert W. Baird Increases RB Global (NYSE:RBA) Price Target to $110.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price increased by equities researchers at Robert W. Baird from $105.00 to $110.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 6.15% from the company’s previous close.

RBA has been the topic of several other reports. CIBC lowered their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets upped their price objective on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada increased their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

RB Global Price Performance

Shares of NYSE RBA opened at $103.63 on Wednesday. The firm has a market cap of $19.14 billion, a P/E ratio of 51.55, a PEG ratio of 4.02 and a beta of 0.96. RB Global has a twelve month low of $65.99 and a twelve month high of $106.90. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $91.78 and a 200 day moving average of $88.25.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.03%. During the same period last year, the company posted $0.82 earnings per share. As a group, research analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

Institutional Investors Weigh In On RB Global

A number of institutional investors have recently bought and sold shares of RBA. CoreCap Advisors LLC increased its stake in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after buying an additional 117 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in RB Global in the 4th quarter worth $27,000. Versant Capital Management Inc increased its stake 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 worth $28,000 after buying an additional 176 shares in the last quarter. Jones Financial Companies Lllp increased its stake 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 worth $35,000 after buying an additional 129 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in RB Global in the 4th quarter worth $36,000. Hedge funds and other 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.