RB Global (NYSE:RBA) Price Target Lowered to $130.00 at National Bank Financial

RB Global (NYSE:RBA) (TSE:RBA) had its target price cut by research analysts at National Bank Financial from $133.00 to $130.00 in a report released on Monday, BayStreet reports. The firm currently has a “sector outperform” rating on the business services provider’s stock. National Bank Financial’s price target suggests a potential upside of 55.50% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Royal Bank Of Canada boosted their target price on RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, June 30th. Finally, Weiss Ratings cut shares of RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.57.

RB Global Stock Down 0.0%

Shares of RB Global stock traded down $0.00 during trading on Monday, hitting $83.60. 896,702 shares of the stock were exchanged, compared to its average volume of 1,399,591. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The firm’s 50-day moving average price is $97.27 and its 200 day moving average price is $101.48. RB Global has a 12-month low of $79.75 and a 12-month high of $119.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, analysts forecast that RB Global will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Deborah Stein purchased 500 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average price of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the purchase, the director directly owned 2,325 shares of the company’s stock, valued at $188,115.75. This trade represents a 27.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chloe Harford purchased 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the acquisition, the director owned 1,200 shares of the company’s stock, valued at approximately $100,488. This trade represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.57% of the company’s stock.

Institutional Trading of RB Global

Several hedge funds and other institutional investors have recently made changes to their positions in RBA. Personal CFO Solutions LLC grew its position in RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock worth $1,073,000 after acquiring an additional 96 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares in the last quarter. Covestor Ltd lifted its stake in shares of RB Global by 11.6% in the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 97 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 105 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in RB Global by 1.1% in the second quarter. California State Teachers Retirement System now owns 11,693 shares of the business services provider’s stock worth $1,242,000 after purchasing an additional 124 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 (NYSE: RBA) operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.