RB Global (NYSE:RBA) Price Target Raised to $145.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective raised by Raymond James Financial from $135.00 to $145.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. They currently have an outperform rating on the business services provider’s stock.

A number of other equities research analysts have also issued reports on RBA. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a report on Monday, November 24th. Bank of America decreased their target price on shares of RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Royal Bank Of Canada upped their price objective on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.13.

RB Global Price Performance

RBA stock opened at $116.53 on Tuesday. RB Global has a 1 year low of $86.68 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15. The firm has a market capitalization of $21.66 billion, a PE ratio of 55.76, a price-to-earnings-growth ratio of 2.16 and a beta of 0.57. The business has a 50 day simple moving average of $103.88 and a 200-day simple moving average of $107.19.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Equities research analysts anticipate that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global’s payout ratio is presently 59.33%.

Insiders Place Their Bets

In other news, Director Deborah Stein purchased 1,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was acquired at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at approximately $101,260. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Francis Kessler sold 20,742 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This represents a 16.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of RB Global by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after purchasing an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in RB Global by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock valued at $1,120,479,000 after buying an additional 165,260 shares during the period. Vontobel Holding Ltd. grew its stake in shares of RB Global by 10.3% in the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after acquiring an additional 672,450 shares in the last quarter. Geode Capital Management LLC increased its position in shares of RB Global by 7.5% during the second quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock worth $482,383,000 after acquiring an additional 317,781 shares during the period. Finally, Fiera Capital Corp raised its stake in shares of RB Global by 4.9% in the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock valued at $440,353,000 after acquiring an additional 190,408 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.