BMO Capital Markets Boosts RB Global (NYSE:RBA) Price Target to $120.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price lifted by analysts at BMO Capital Markets from $116.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 15.80% from the stock’s current price.

A number of other research firms have also issued reports on RBA. Raymond James upped their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday. Robert W. Baird upped their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday. CIBC dropped 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. Finally, StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

RB Global Stock Down 1.0 %

RBA opened at $103.63 on Wednesday. The company has a market cap of $19.14 billion, a PE ratio of 51.55, a price-to-earnings-growth ratio of 4.02 and a beta of 0.96. RB Global has a twelve month low of $65.99 and a twelve month high of $106.90. The company has a 50-day moving average price of $91.78 and a 200 day moving average price of $88.25. 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 announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.03%. During the same period in the previous year, the company earned $0.82 EPS. Sell-side analysts expect that RB Global will post 2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RB Global

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after acquiring an additional 358,752 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares in the last quarter. State Street Corp boosted its stake in shares of RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after purchasing an additional 103,080 shares during the period. Geode Capital Management LLC boosted its stake in shares of RB Global by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after purchasing an additional 264,778 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of RB Global by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock valued at $307,033,000 after purchasing an additional 19,895 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.