RB Global (NYSE:RBA) Given New $115.00 Price Target at Robert W. Baird

RB Global (NYSE:RBA) (TSE:RBA) had its target price raised by Robert W. Baird from $110.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 8.58% from the stock’s previous close.

RBA has been the topic of several other reports. National Bankshares cut their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. BMO Capital Markets boosted their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, CIBC decreased their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.50.

RB Global Stock Performance

NYSE RBA opened at $105.91 on Thursday. The business’s 50-day moving average price is $98.33 and its 200 day moving average price is $94.79. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global has a twelve month low of $70.27 and a twelve month high of $106.90. The company has a market capitalization of $19.61 billion, a PE ratio of 52.69, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78.

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

Insider Transactions at RB Global

In other RB Global news, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. The trade was a 27.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % 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 currently owned by insiders.

Institutional Investors Weigh In On RB Global

Several hedge funds and other institutional investors have recently modified their holdings of RBA. CoreCap Advisors LLC grew its stake in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. MV Capital Management Inc. lifted its holdings in RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after buying an additional 278 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of 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 acquiring an additional 129 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of RB Global in the 4th quarter valued at approximately $36,000. Finally, IFP Advisors Inc raised its position in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 279 shares in the last quarter. 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.