RB Global (NYSE:RBA) Price Target Raised to $109.00 at CIBC

RB Global (NYSE:RBA) (TSE:RBA) had its price target raised by CIBC from $102.00 to $109.00 in a research note published on Thursday, MarketBeat.com reports. CIBC currently has an outperformer rating on the business services provider’s stock.

Several other equities research analysts also recently weighed in on RBA. BMO Capital Markets raised their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Bank of America lifted their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Robert W. Baird lifted their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada lifted their price objective on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.36.

RB Global Stock Performance

Shares of RBA stock opened at $95.60 on Thursday. The firm has a market cap of $17.63 billion, a price-to-earnings ratio of 51.96, a PEG ratio of 4.61 and a beta of 0.95. The company’s 50 day moving average is $89.68 and its 200 day moving average is $83.32. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. RB Global has a 52-week low of $60.84 and a 52-week high of $99.79.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.21%. RB Global’s payout ratio is 63.04%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.32% of the stock is owned by corporate insiders.

Institutional Trading of RB Global

A number of institutional investors and hedge funds have recently modified their holdings of RBA. Weil Company Inc. boosted its position in RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after acquiring an additional 132 shares during the last quarter. Advisor OS LLC boosted its position in RB Global by 1.9% during the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after acquiring an additional 156 shares during the last quarter. Blue Trust Inc. boosted its position in RB Global by 11.9% during the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after acquiring an additional 157 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares during the last quarter. Finally, CWM LLC boosted its position in RB Global by 6.3% during the third quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock worth $318,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Company Profile

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.