RB Global, Inc. (NYSE:RBA) Stock Has Consensus Price Target of $126.29

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $126.29.

A number of research firms have weighed in on RBA. Zacks Research lowered RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. National Bank Financial boosted their price objective on shares of RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Finally, Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein purchased 500 shares of the stock in a transaction on Wednesday, September 9th. The stock was acquired at an average price of $80.91 per share, with a total value of $40,455.00. Following the transaction, the director directly owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Chloe Harford purchased 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average cost of $83.74 per share, with a total value of $100,488.00. Following the purchase, the director directly owned 1,200 shares of the company’s stock, valued at $100,488. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State of Wyoming increased its holdings in RB Global by 366.1% in the 3rd quarter. State of Wyoming now owns 10,483 shares of the business services provider’s stock worth $853,000 after buying an additional 8,234 shares during the period. Choreo LLC purchased a new stake in RB Global in the 3rd quarter worth $247,000. Pinnacle Wealth Planning Services Inc. lifted its position in shares of RB Global by 32.9% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,286 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 566 shares in the last quarter. North Dakota State Investment Board boosted its position in RB Global by 3.3% during the third quarter. North Dakota State Investment Board now owns 5,694 shares of the business services provider’s stock worth $463,000 after acquiring an additional 182 shares during the last quarter. Finally, Tectonic Advisors LLC increased its stake in shares of RB Global by 10.0% in the 3rd quarter. Tectonic Advisors LLC now owns 66,826 shares of the business services provider’s stock worth $5,439,000 after acquiring an additional 6,091 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

RB Global stock opened at $84.42 on Friday. RB Global has a one year low of $78.05 and a one year high of $119.33. The business has a fifty day moving average price of $83.81 and a 200-day moving average price of $100.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The firm has a market capitalization of $15.30 billion, a P/E ratio of 36.23, a PEG ratio of 1.44 and a beta of 0.53.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. As a group, equities research analysts forecast that RB Global will post 4.06 EPS for the current year.

RB Global declared that its board has initiated a stock repurchase program on Tuesday, September 15th that authorizes the company to buy back $500 million in shares. This buyback authorization authorizes the business services provider to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

RB Global Company Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.