RB Global (NYSE:RBA) Upgraded at Barclays

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by equities research analysts at Barclays to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada increased their target price on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a report on Tuesday. BMO Capital Markets reissued an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Finally, Stephens reissued an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $126.13.

RB Global Trading Up 1.9%

Shares of NYSE:RBA opened at $105.87 on Thursday. The company has a market cap of $19.68 billion, a P/E ratio of 49.24, a PEG ratio of 1.66 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global has a 1 year low of $93.58 and a 1 year high of $119.58. The stock’s fifty day moving average price is $101.79 and its 200-day moving average price is $103.89.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. RB Global’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that RB Global will post 4.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Deborah Stein purchased 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.57% of the stock is currently owned by insiders.

Institutional Trading of RB Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in RB Global by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock worth $2,744,455,000 after buying an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in RB Global by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock worth $1,120,479,000 after buying an additional 165,260 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in RB Global by 14.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after buying an additional 1,111,217 shares in the last quarter. State Street Corp increased its position in RB Global by 1.7% in the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock worth $647,118,000 after buying an additional 104,286 shares in the last quarter. Finally, Royal Bank of Canada increased its position in RB Global by 13.1% in the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock worth $483,432,000 after buying an additional 585,617 shares in the last quarter. Hedge funds and other institutional investors 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.