CIBC Boosts RB Global (NYSE:RBA) Price Target to $118.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective lifted by CIBC from $116.00 to $118.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperformer” rating on the business services provider’s stock. CIBC’s price objective would indicate a potential upside of 11.42% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Raymond James upped their price target on RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. BMO Capital Markets increased their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, National Bankshares cut their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

RB Global Stock Up 1.0 %

Shares of NYSE:RBA opened at $105.91 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The firm has a market cap of $19.61 billion, a P/E ratio of 52.69, a P/E/G ratio of 4.95 and a beta of 0.78. RB Global has a 12 month low of $70.27 and a 12 month high of $106.90. The company’s 50-day moving average price is $98.33 and its two-hundred day moving average price is $94.86.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $0.90 earnings per share. RB Global’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that RB Global will post 2.5 EPS for the current fiscal year.

Insider Activity at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 in the company, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO James J. Jeter sold 600 shares of the company’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 transaction of $59,178.00. Following the completion of the transaction, the executive now owns 19,667 shares of the company’s stock, valued at $1,939,756.21. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock worth $2,338,161 in the last quarter. Corporate insiders own 4.32% of the company’s stock.

Institutional Trading of RB Global

Several hedge funds and other institutional investors have recently modified their holdings of RBA. Raymond James Financial Inc. bought a new position in shares of RB Global during the fourth quarter worth about $266,148,000. Norges Bank bought a new position in shares of RB Global during the 4th quarter worth approximately $209,931,000. FMR LLC raised its holdings in shares of RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. lifted its position in shares of RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in RB Global by 17.3% during the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock worth $379,150,000 after purchasing an additional 557,407 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.