RB Global (NYSE:RBA) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

by · The Cerbat Gem

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) had its price target lifted by research analysts at Royal Bank of Canada from $99.00 to $107.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.13% from the stock’s previous close.

RBA has been the subject of a number of other reports. BMO Capital Markets upped their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday. Robert W. Baird upped their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday. Bank of America raised their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Raymond James upped their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average price target of $98.36.

Get Our Latest Stock Report on RB Global

RB Global Stock Up 3.0 %

NYSE RBA traded up $2.72 during trading on Monday, reaching $94.58. The company’s stock had a trading volume of 552,791 shares, compared to its average volume of 1,016,681. 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 stock has a market capitalization of $17.44 billion, a PE ratio of 51.05, a PEG ratio of 5.99 and a beta of 0.92. RB Global has a 1-year low of $58.85 and a 1-year high of $94.58. The business has a 50-day moving average price of $83.66 and a 200-day moving average price of $79.77.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction 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 sale, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other RB Global news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the sale, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,601 shares of company stock valued at $3,720,043. 4.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On RB Global

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

About RB Global

(Get Free Report)

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.

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