National Bank Financial Cuts RB Global (NYSE:RBA) Price Target to $130.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price trimmed by National Bank Financial from $133.00 to $130.00 in a research note issued to investors on Monday,BayStreet reports. The firm currently has a sector outperform rating on the business services provider’s stock.

RBA has been the topic of a number of other reports. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Royal Bank Of Canada upped their price objective on shares of RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Weiss Ratings lowered shares of RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Finally, Barclays lowered their target price on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus target price of $127.57.

RB Global Stock Performance

RBA opened at $84.27 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $95.58 and its 200-day moving average is $101.18. The stock has a market cap of $15.60 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. RB Global has a twelve month low of $79.75 and a twelve month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. On average, analysts predict that RB Global will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is presently 56.65%.

Insider Buying and Selling at RB Global

In other news, Director Chloe Harford bought 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the purchase, the director directly owned 1,200 shares of the company’s stock, valued at $100,488. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Deborah Stein bought 500 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were purchased at an average cost of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the acquisition, the director owned 2,325 shares of the company’s stock, valued at $188,115.75. This trade represents a 27.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently made changes to their positions in RBA. Addison Advisors LLC bought a new stake in RB Global during the second quarter worth approximately $26,000. MV Capital Management Inc. acquired a new position in RB Global in the fourth quarter worth approximately $29,000. J.Safra Asset Management Corp bought a new position in shares of RB Global in the second quarter valued at $32,000. Bayban bought a new position in shares of RB Global in the fourth quarter valued at $34,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of RB Global during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

About RB Global

RB Global, Inc (NYSE: RBA) operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.