RB Global, Inc. (NYSE:RBA) Receives $92.19 Average Target Price from Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $92.19.

RBA has been the topic of several recent analyst reports. Raymond James increased their target price on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. CIBC initiated coverage on shares of RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price objective for the company. Bank of America boosted their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada raised their price target on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird boosted their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th.

RB Global Trading Up 0.2 %

Shares of RBA stock opened at $85.10 on Monday. RB Global has a 1 year low of $58.85 and a 1 year high of $87.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The stock’s 50 day simple moving average is $81.01 and its two-hundred day simple moving average is $77.34. The company has a market cap of $15.56 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 5.41 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. Research analysts predict that RB Global will post 1.96 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, August 28th. This is a positive change from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 1.36%. RB Global’s dividend payout ratio is 69.88%.

Insider Transactions at RB Global

In other news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,718 shares of company stock valued at $2,861,754. Company insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

Large investors have recently made changes to their positions in the business. Vontobel Asset Management Inc. increased its position in RB Global by 66.5% during the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock valued at $467,920,000 after buying an additional 2,655,388 shares in the last quarter. Norges Bank acquired a new position in shares of RB Global during the fourth quarter valued at about $141,970,000. Vanguard Group Inc. raised its position in shares of RB Global by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after purchasing an additional 1,153,497 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in RB Global by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after purchasing an additional 787,042 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in RB Global by 1,879.0% during the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after purchasing an additional 594,941 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

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.