RB Global (RBA)

• Market cap: $16.7B
• 1 day: -0.39%
• 5 days: -4.60%
• 1 month: -3.45%
• 3 months: 7.23%
• 6 months: 15.76%
• Year to date: 36.04%
• 1 year: 41.16%
• 5 years: 107.97%
• 10 years: 255.50%
• Sector: Industrials
• Industry: Business Services

About: RB Global operates the world's largest auction for heavy equipment. The company started as a live auctioneer of industrial equipment; since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. RB Global operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms. The company holds over 300 auctions yearly and sells $6 billion worth of equipment.

Employees: 7,900

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

57% more first-time investments, than exits

New positions opened: 66 | Existing positions closed: 42

6% more funds holding

Funds holding: 417 [Q2] → 441 (+24) [Q3]

0% more capital invested

Capital invested by funds: $13.4B [Q2] → $13.4B (+$59.1M) [Q3]

5% less call options, than puts

Call options by funds: $38.2M | Put options by funds: $40.3M

4.95% less ownership

Funds ownership: 95.17% [Q2] → 90.22% (-4.95%) [Q3]

6% less funds holding in top 10

Funds holding in top 10: 16 [Q2] → 15 (-1) [Q3]

24% less repeat investments, than reductions

Existing positions increased: 133 | Existing positions reduced: 175

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $100 10% upside
• Avg. target: $106 17% upside
• High target: $109 20% upside

4 analyst ratings

• positive: 4 100%
• neutral: 0 0%
• negative: 0 0%

CIBC	20% upside $109	Outperformer Maintained	12 Dec 2024
RBC Capital Arthur Nagorny 80% 1-year accuracy 4 / 5 met price target	18% upside $107	Outperform Maintained	11 Nov 2024
BMO Capital John Gibson 20% 1-year accuracy 1 / 5 met price target	18% upside $107	Outperform Maintained	11 Nov 2024
Baird Craig Kennison 39% 1-year accuracy 11 / 28 met price target	10% upside $100	Outperform Maintained	11 Nov 2024