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

RB Global (NYSE:RBA) (TSE:RBA) had its price objective hoisted by investment analysts at BMO Capital Markets from $116.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 13.92% from the stock’s current price.

A number of other brokerages have also weighed in on RBA. Raymond James lifted their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday. CIBC lowered their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Robert W. Baird upped their price target on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada boosted their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.64.

RB Global Trading Up 9.1 %

Shares of RBA stock traded up $8.78 during mid-day trading on Wednesday, hitting $105.34. 1,786,935 shares of the company’s stock were exchanged, compared to its average volume of 972,725. The stock has a market cap of $19.46 billion, a price-to-earnings ratio of 57.25, a PEG ratio of 4.01 and a beta of 0.96. The stock has a 50-day simple moving average of $91.45 and a two-hundred day simple moving average of $87.87. RB Global has a fifty-two week low of $65.99 and a fifty-two week high of $106.90. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.06% and a return on equity of 7.41%. During the same quarter last year, the firm earned $0.82 EPS. Equities analysts expect that RB Global will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CTC Alternative Strategies Ltd. purchased a new stake in RB Global during the 4th quarter worth $209,000. Alpine Global Management LLC purchased a new stake in shares of RB Global during the fourth quarter worth about $789,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of RB Global in the fourth quarter worth about $39,080,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in RB Global by 35.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 439,101 shares of the business services provider’s stock valued at $39,611,000 after purchasing an additional 116,106 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in RB Global by 24.0% during the 4th quarter. Vident Advisory LLC now owns 3,585 shares of the business services provider’s stock valued at $323,000 after purchasing an additional 693 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

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.