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

RB Global (NYSE:RBA) (TSE:RBA) had its price target lifted by investment analysts at BMO Capital Markets from $105.00 to $107.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target points to a potential upside of 15.21% from the company’s current price.

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

RB Global Stock Performance

Shares of RBA opened at $92.87 on Monday. RB Global has a 12-month low of $58.85 and a 12-month high of $94.85. 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 company has a market cap of $17.13 billion, a PE ratio of 50.47, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92. The stock has a 50-day moving average price of $83.98 and a 200-day moving average price of $80.05.

Insider Activity

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the 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 sale, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at $1,733,841.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of RB Global stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,681 shares of company stock valued at $3,489,480 over the last ninety days. 4.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its position in shares of RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. UMB Bank n.a. increased its holdings in RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after buying an additional 388 shares during the last quarter. Quarry LP purchased a new stake in RB Global during the second quarter valued at approximately $53,000. Nisa Investment Advisors LLC boosted its stake 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 acquiring an additional 210 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 677 shares during the period. 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.