Barclays Lowers RB Global (NYSE:RBA) Price Target to $121.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective lowered by stock analysts at Barclays from $124.00 to $121.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Barclays‘s target price would indicate a potential upside of 9.12% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens reaffirmed an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. National Bank Financial raised their price objective on RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $127.57.

RB Global Trading Up 0.3%

Shares of RB Global stock opened at $110.88 on Wednesday. RB Global has a 1 year low of $93.58 and a 1 year high of $119.58. The company’s fifty day simple moving average is $108.30 and its 200-day simple moving average is $106.21. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 51.36, a PEG ratio of 1.73 and a beta of 0.55. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. The firm had revenue of $888.01 million during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. As a group, sell-side analysts expect that RB Global will post 4.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Deborah Stein purchased 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director directly owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MV Capital Management Inc. acquired a new stake in shares of RB Global in the 4th quarter valued at $29,000. Bayban bought a new stake in shares of RB Global in the 4th quarter worth about $34,000. State of Wyoming acquired a new stake in shares of RB Global during the 2nd quarter worth about $46,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RB Global during the 1st quarter worth about $43,000. Finally, Nemes Rush Group LLC bought a new position in RB Global during the 4th quarter valued at about $54,000. 95.37% of the stock is owned by institutional investors.

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.