Raymond James’s latest rating for RBA stock


RB Global Inc.’s recently made public that its Chief Legal Officer Watt Darren Jeffrey unloaded Company’s shares for reported $16351.0 on Sep 01. In the deal valued at $62.41 per share,262 shares were sold. As a result of this transaction, Watt Darren Jeffrey now holds 1,967 shares worth roughly $ 0.12 million.

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Then, Cash Megan Anne sold 13,596 shares, generating $839,961 in total proceeds. Upon selling the shares at $61.78, the Principal Fin. & Acctg Officer now owns 0 shares.

Before that, Olsson Erik bought 2,000 shares. RB Global Inc. shares valued at $119,780 were divested by the Director at a price of $59.89 per share. As a result of the transaction, Olsson Erik now holds 4,000 shares, worth roughly $0.25 million.

Raymond James upgraded its RB Global Inc. [RBA] rating to an Outperform from a a Mkt perform in a research note published on Friday, July 20, 2023; the price target was increased to $75 from $60. PT values the company’s stock at a premium of 16.8 to its Friday closing price.

Price Performance Review of RBA

On Friday, RB Global Inc. [NYSE:RBA] saw its stock jump 1.10% to $62.40. On the same session, the stock had its day’s lowest price of $61.37, but rose to a high of $62.54. Over the last five days, the stock has gained 5.14%. RB Global Inc. shares have risen nearly 10.16% since the year began. Nevertheless, the stocks have fallen -8.13% over the past one year. While a 52-week high of $70.49 was reached on 08/01/23, a 52-week low of $47.72 was recorded on 05/17/23. SMA at 50 days reached $60.17, while 200 days put it at $57.95. A total of 0.69 million shares were traded, compared to the trading of 1.05 million shares in the previous session.

Levels Of Support And Resistance For RBA Stock

The 24-hour chart illustrates a support level at 61.67, which if violated will result in even more drops to 60.93. On the upside, there is a resistance level at 62.84. A further resistance level may holdings at 63.27. The Relative Strength Index (RSI) on the 14-day chart is 66.68, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.92, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.04%. Stochastics %K at 92.60% indicates the stock is a selling.

How much short interest is there in RB Global Inc.?

A steep rise in short interest was recorded in RB Global Inc. stocks on Aug 14, 2023, growing by 0.6 million shares to a total of 6.84 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.24 million shares. There was a rise of 8.77%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.77% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.44.

According to FactSet, RB Global Inc.’s share price will average $72.33 in the next year, based on opinions of analysts polled by the firm. This is up nearly 19.9 percent from its previous closing price of $61.72. Analysts expect RB Global Inc. stock to reach the higher price of $76.00, while the lowest price estimate is $64.00. However, 9 analysts have rated RBA stock as an Overweight in their predictions for 2023.


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