RB Global (NYSE:RBA) Price Target Cut to $121.00 by Analysts at Barclays

RB Global (NYSE:RBA) (TSE:RBA) had its target price dropped by analysts at Barclays from $124.00 to $121.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Barclays‘s price target suggests a potential upside of 9.12% from the company’s current price.

Several other research analysts have also recently issued reports on RBA. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets restated an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada lifted their target price on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RB Global in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, RB Global currently has a consensus rating of “Buy” and a consensus target price of $127.57.

RB Global Stock Up 0.3%

RBA stock opened at $110.88 on Wednesday. The company has a market capitalization of $20.62 billion, a P/E ratio of 51.36, a PEG ratio of 1.73 and a beta of 0.55. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. RB Global has a twelve month low of $93.58 and a twelve month high of $119.58. The firm has a 50 day simple moving average of $108.30 and a 200-day simple moving average of $106.21.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. The business had revenue of $888.01 million for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. On average, equities research analysts predict that RB Global will post 4.16 earnings per share for the current fiscal year.

Insider Activity at RB Global

In other RB Global news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director directly owned 1,825 shares in the company, valued at $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

A number of large investors have recently bought and sold shares of RBA. MV Capital Management Inc. acquired a new stake in shares of RB Global in the fourth quarter worth about $29,000. Bayban bought a new stake in RB Global during the fourth quarter worth approximately $34,000. Cassaday & Co Wealth Management LLC acquired a new position in RB Global during the first quarter valued at approximately $43,000. State of Wyoming bought a new position in shares of RB Global in the second quarter valued at approximately $46,000. Finally, Nemes Rush Group LLC acquired a new stake in shares of RB Global in the fourth quarter worth $54,000. 95.37% of the stock is currently owned by institutional investors.

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.