RB GlobalRBA
Market Cap: $15.2B
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: 7,700
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
40% more call options, than puts
Call options by funds: $52.7M | Put options by funds: $37.6M
26% more first-time investments, than exits
New positions opened: 72 | Existing positions closed: 57
7% more capital invested
Capital invested by funds: $12.4B [Q1] → $13.3B (+$856M) [Q2]
5.8% more ownership
Funds ownership: 88.98% [Q1] → 94.78% (+5.8%) [Q2]
4% more funds holding
Funds holding: 400 [Q1] → 415 (+15) [Q2]
6% more repeat investments, than reductions
Existing positions increased: 147 | Existing positions reduced: 139
16% less funds holding in top 10
Funds holding in top 10: 19 [Q1] → 16 (-3) [Q2]
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
BMO Capital John Gibson 25% 1-year accuracy 1 / 4 met price target | 27%upside $105 | Outperform Initiated | 5 Sept 2024 |
B of A Securities Michael Feniger 100% 1-year accuracy 2 / 2 met price target | 12%upside $93 | Neutral Maintained | 26 Aug 2024 |
Raymond James Bryan Fast 100% 1-year accuracy 1 / 1 met price target | 19%upside $98 | Outperform Maintained | 8 Aug 2024 |
RBC Capital Arthur Nagorny 100% 1-year accuracy 6 / 6 met price target | 20%upside $99 | Outperform Maintained | 7 Aug 2024 |
Baird Craig Kennison 69% 1-year accuracy 18 / 26 met price target | 4%upside $86 | Outperform Maintained | 7 Aug 2024 |