RB Global (NYSE:RBA) Price Target Raised to $115.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective hoisted by Robert W. Baird from $110.00 to $115.00 in a research report released on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

A number of other equities analysts have also recently commented on the company. Raymond James lifted their price target on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. CIBC cut their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. BMO Capital Markets upped their price objective on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.50.

RB Global Trading Up 1.0 %

NYSE:RBA opened at $105.91 on Thursday. The company has a market cap of $19.61 billion, a P/E ratio of 52.69, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. RB Global has a twelve month low of $70.27 and a twelve month high of $106.90. The business has a 50 day moving average price of $98.33 and a two-hundred day moving average price of $94.86. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, May 29th. RB Global’s dividend payout ratio (DPR) is 57.14%.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 600 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the completion of the transaction, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock worth $2,338,161 in the last quarter. Corporate insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On RB Global

A number of large investors have recently modified their holdings of RBA. City Center Advisors LLC bought a new stake in shares of RB Global during the 4th quarter worth $338,000. Armstrong Henry H Associates Inc. raised its stake in RB Global by 3.9% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 8,305 shares of the business services provider’s stock worth $749,000 after acquiring an additional 310 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of RB Global by 8.9% in the fourth quarter. Park Avenue Securities LLC now owns 8,082 shares of the business services provider’s stock worth $729,000 after acquiring an additional 658 shares during the last quarter. Cypress Wealth Services LLC acquired a new stake in shares of RB Global in the 4th quarter valued at approximately $224,000. Finally, Avanza Fonder AB acquired a new position in RB Global during the 4th quarter worth approximately $1,234,000. Institutional investors and hedge funds 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.