Stock of the Day

September 3, 2019

RB Global (RBA)

$87.28
-$0.54 (-0.6%)
Market Cap: $15.92B

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. The company's brands include GovPlanet, an online marketplace for the sale of government and military assets; RB Auction, an onsite and online marketplace for selling and buying used equipment; IronPlanet, an online marketplace for selling and buying used equipment; Marketplace-E, an online solution that make offers/buy now format; Rouse Appraisals, a certified appraisal service solution; Ritchie List Mascus, an online equipment listing service and B2B dealer portal; CSAToday, an online reporting and analysis tool that gives sellers the ability to manage their vehicle assets and monitor sales performance; and Catastrophe Response Services. In addition, it offers title, data, transportation and logistics, refurbishing, inspection, and financial services. It serves customers across various asset classes, including automotive, commercial transportation, construction, government surplus, lifting and material handling, energy, mining, and agriculture. RB Global, Inc. was founded in 1958 and is headquartered in Westchester, Illinois.

Today's Trend

RB Global, Inc. (NYSE: RBA) shares have decreased despite a stronger-than-expected second-quarter report, while analyst actions remain supportive and point to substantial potential upside.

  • Quarterly earnings and revenue beat estimates. RB Global reported adjusted earnings of $1.13 per share, above the $1.09 consensus and up from $1.07 a year earlier. Revenue reached $1.66 billion versus expectations of $1.21 billion, providing a favorable fundamental backdrop. RB Global Q2 Earnings and Revenues Beat Estimates
  • Analysts raised their price targets and maintained bullish ratings. National Bank Financial increased its target from $132 to $133 and assigned an “outperform” rating. Royal Bank of Canada raised its target from $150 to $152, also with an “outperform” rating. These targets imply meaningful upside from the recent trading level. RB Global Analyst Ratings
  • Management’s earnings presentation and conference call offer additional details on the quarter and outlook. Investors are reviewing the company’s Q2 materials following the earnings release. RB Global Q2 Results Presentation
  • The market reaction has been negative despite the earnings beat. The supplied reports do not identify a specific operational disappointment, suggesting investors may be weighing valuation, forward expectations, or taking profits after the results. RB Global trades at a relatively high trailing P/E of approximately 44.7.
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