CIBC Forecasts Strong Price Appreciation for RB Global (NYSE:RBA) Stock

RB Global (NYSE:RBA) (TSE:RBA) had its price target upped by analysts at CIBC from $116.00 to $118.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperformer” rating on the business services provider’s stock. CIBC’s target price suggests a potential upside of 11.42% from the stock’s previous close.

Several other research analysts have also weighed in on RBA. National Bankshares dropped their price objective on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada upped their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. BMO Capital Markets lifted their price objective on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird raised their price target on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

RB Global Trading Up 1.0 %

NYSE RBA opened at $105.91 on Friday. The firm’s 50 day moving average price is $98.33 and its two-hundred day moving average price is $94.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global has a twelve month low of $70.27 and a twelve month high of $106.90. The stock has a market cap of $19.61 billion, a price-to-earnings ratio of 52.69, a PEG ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. RB Global’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that RB Global will post 2.5 EPS for the current year.

Insider Activity

In related news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 600 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the sale, the executive now owns 19,667 shares in the company, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is owned by insiders.

Institutional Investors Weigh In On RB Global

Several large investors have recently modified their holdings of the stock. CoreCap Advisors LLC boosted 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 valued at $25,000 after buying an additional 117 shares in the last quarter. MV Capital Management Inc. boosted its stake in shares of RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 278 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock worth $36,000 after purchasing an additional 279 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in RB Global during the 4th quarter valued at about $37,000. 95.37% of the stock is currently 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.