Brokerages Set RB Global, Inc. (NYSE:RBA) PT at $92.19

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $92.19.

A number of analysts have recently weighed in on RBA shares. Robert W. Baird increased their price objective on shares of RB Global from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America lifted their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada boosted their price objective on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Raymond James raised their target price on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, BMO Capital Markets began coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price target for the company.

RB Global Stock Up 0.2 %

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

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

RB Global Increases Dividend

The company 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. This is an increase from RB Global’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Wednesday, August 28th. RB Global’s dividend payout ratio is currently 69.88%.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the sale, the chief executive officer now directly owns 78,104 shares in the company, valued at $6,319,394.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now directly owns 23,267 shares in the company, valued at approximately $1,837,162.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total transaction of $647,280.00. Following the completion of the sale, the chief executive officer now owns 78,104 shares in the company, valued at $6,319,394.64. The disclosure for this sale can be found here. Insiders have sold a total of 34,718 shares of company stock valued at $2,861,754 in the last 90 days. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RBA. Vontobel Asset Management Inc. lifted its holdings in shares of RB Global by 66.5% in the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after acquiring an additional 2,655,388 shares during the last quarter. Norges Bank purchased a new stake in RB Global in the fourth quarter valued at approximately $141,970,000. Vanguard Group Inc. lifted its stake in RB Global by 5.1% during the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after purchasing an additional 1,153,497 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of RB Global by 142.9% during the second 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 buying an additional 787,042 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of RB Global by 1,879.0% in the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after buying an additional 594,941 shares in 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.