RB Global (NYSE:RBA) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

RB Global (NYSE:RBA) (TSE:RBA) had its price objective lifted by investment analysts at BMO Capital Markets from $105.00 to $107.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 13.96% from the company’s previous close.

A number of other research analysts also recently issued reports on RBA. Robert W. Baird boosted their target price on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America upped their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Raymond James boosted their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada increased their price target on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.21.

RB Global Trading Up 2.2 %

RBA stock traded up $2.03 during mid-day trading on Monday, reaching $93.89. The company’s stock had a trading volume of 206,229 shares, compared to its average volume of 1,015,091. RB Global has a 12 month low of $58.85 and a 12 month high of $94.54. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average price is $83.66 and its 200 day moving average price is $79.77. The company has a market cap of $17.31 billion, a price-to-earnings ratio of 51.23, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92.

Insider Buying and Selling

In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,601 shares of company stock worth $3,720,043. 4.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RB Global

A number of hedge funds have recently made changes to their positions in RBA. Massmutual Trust Co. FSB ADV increased its holdings in RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after buying an additional 165 shares during the last quarter. UMB Bank n.a. grew its position in shares of RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 388 shares during the period. Quarry LP purchased a new stake in shares of RB Global during the 2nd quarter worth approximately $53,000. Nisa Investment Advisors LLC raised its holdings in shares of RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares during the period. Finally, Covestor Ltd lifted its stake in RB Global by 533.1% in the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 677 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

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.