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

RB Global (NYSE:RBA) (TSE:RBA) had its price objective upped by Scotiabank from $88.00 to $89.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a sector outperform rating on the business services provider’s stock.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada lifted their target price on RB Global from $75.00 to $93.00 and gave the stock an outperform rating in a report on Monday, February 26th. Raymond James boosted their price objective on RB Global from $78.00 to $90.00 and gave the company an outperform rating in a report on Monday, February 26th. Finally, StockNews.com upgraded RB Global from a sell rating to a hold rating in a report on Friday, February 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $83.00.

RB Global Stock Performance

NYSE:RBA opened at $73.18 on Wednesday. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 86.09, a PEG ratio of 5.51 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $74.59 and its two-hundred day simple moving average is $68.13. RB Global has a 1 year low of $51.07 and a 1 year high of $77.99.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The company’s quarterly revenue was up 134.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, equities analysts anticipate that RB Global will post 1.9 earnings per share for the current fiscal year.

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the sale, the insider now directly owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the company’s 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 sale, the executive now directly owns 30,915 shares in the company, valued at approximately $2,359,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the completion of the sale, the insider now owns 21,103 shares of the company’s stock, valued at $1,625,986.15. The disclosure for this sale can be found here. Insiders sold a total of 14,816 shares of company stock worth $1,133,055 in the last quarter. 4.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of RB Global in the 3rd quarter worth $26,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of RB Global in the 3rd quarter worth $26,000. YHB Investment Advisors Inc. bought a new position in shares of RB Global in the 1st quarter worth $27,000. Oakworth Capital Inc. raised its position in shares of RB Global by 53.3% in the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after acquiring an additional 162 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of RB Global in the 4th quarter worth $54,000. 95.37% of the stock is owned by institutional investors.

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.