RB Global (NYSE:RBA) Price Target Lowered to $115.00 at National Bankshares

RB Global (NYSE:RBA) (TSE:RBA) had its price objective decreased by National Bankshares from $118.00 to $115.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. National Bankshares’ price objective would suggest a potential upside of 21.18% from the stock’s previous close.

Several other analysts have also recently commented on RBA. CIBC decreased their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Raymond James boosted their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets boosted their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $108.56.

RB Global Stock Down 1.2 %

Shares of NYSE:RBA opened at $94.90 on Wednesday. The company’s fifty day moving average is $97.52 and its 200-day moving average is $92.20. 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 52 week low of $69.83 and a 52 week high of $106.90. The company has a market capitalization of $17.54 billion, a PE ratio of 47.22, a P/E/G ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the previous year, the business posted $0.82 EPS. Equities research analysts predict that RB Global will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO James J. Jeter sold 600 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the business’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 value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock valued at $2,338,161 in the last ninety days. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in RB Global by 12,802.6% in the 1st quarter. GAMMA Investing LLC now owns 161,282 shares of the business services provider’s stock valued at $16,177,000 after acquiring an additional 160,032 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of RB Global by 476.7% in the 1st quarter. Versant Capital Management Inc now owns 1,759 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 1,454 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of RB Global by 18.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider’s stock valued at $441,000 after purchasing an additional 752 shares in the last quarter. Members Wealth LLC acquired a new position in shares of RB Global during the fourth quarter worth about $2,738,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in shares of RB Global during the fourth quarter worth about $3,590,000. Institutional investors and hedge funds 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.