BMO Capital Markets Increases RB Global (NYSE:RBA) Price Target to $107.00

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 issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 15.21% from the company’s current price.

A number of other brokerages have also issued reports on RBA. Raymond James increased their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Royal Bank of Canada lifted their target price on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Robert W. Baird increased their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus target price of $98.36.

RB Global Stock Performance

RBA opened at $92.87 on Monday. The company has a 50 day simple moving average of $83.98 and a two-hundred day simple moving average of $80.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The firm has a market cap of $17.13 billion, a P/E ratio of 50.47, 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 $94.85.

Insider Activity

In related news, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now owns 20,267 shares in the company, valued at approximately $1,733,841.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,733,841.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,681 shares of company stock worth $3,489,480. 4.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC lifted its position in RB Global by 89.7% in the third quarter. Cerity Partners LLC now owns 8,844 shares of the business services provider’s stock worth $712,000 after buying an additional 4,182 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of RB Global by 7.7% in the 3rd quarter. Citigroup Inc. now owns 51,792 shares of the business services provider’s stock worth $4,173,000 after acquiring an additional 3,682 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of RB Global during the 3rd quarter worth about $618,000. Intech Investment Management LLC boosted its stake in shares of RB Global by 16.8% during the 3rd quarter. Intech Investment Management LLC now owns 21,413 shares of the business services provider’s stock worth $1,725,000 after purchasing an additional 3,081 shares during the period. Finally, PCJ Investment Counsel Ltd. grew its holdings in RB Global by 32.0% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 207,660 shares of the business services provider’s stock valued at $16,714,000 after purchasing an additional 50,320 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.