Brokerages Set RB Global, Inc. (NYSE:RBA) Price Target at $107.64

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $107.64.

Several research firms recently weighed in on RBA. BMO Capital Markets increased their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. CIBC reduced their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Robert W. Baird upped their target price on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th.

RB Global Stock Down 2.4 %

Shares of RB Global stock opened at $97.90 on Friday. RB Global has a 12-month low of $69.83 and a 12-month high of $106.90. The stock has a market capitalization of $18.09 billion, a P/E ratio of 48.70, a PEG ratio of 4.95 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $96.38 and a two-hundred day moving average price of $91.48.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the prior year, the firm earned $0.82 EPS. Equities analysts expect that RB Global will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is currently 57.71%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at $1,983,125.95. The trade was a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,897 shares of company stock valued at $2,338,161. Corporate insiders own 4.32% of the company’s stock.

Institutional Trading of RB Global

Several institutional investors and hedge funds have recently bought and sold shares of RBA. Raymond James Financial Inc. bought a new stake in shares of RB Global during the 4th quarter worth approximately $266,148,000. Norges Bank acquired a new position in RB Global during the fourth quarter worth $209,931,000. FMR LLC raised its position in RB Global by 137.5% during the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock worth $252,985,000 after acquiring an additional 1,623,429 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after acquiring an additional 753,700 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after purchasing an additional 610,843 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

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.