RB Global (NYSE:RBA) Given New $118.00 Price Target at CIBC

RB Global (NYSE:RBA) (TSE:RBA) had its price target increased by CIBC from $116.00 to $118.00 in a research report report published on Friday,Benzinga reports. CIBC currently has an outperformer rating on the business services provider’s stock.

A number of other brokerages also recently issued reports on RBA. Royal Bank of Canada increased their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. National Bankshares reduced their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Raymond James increased their price target on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, BMO Capital Markets increased their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

RB Global Price Performance

Shares of NYSE RBA opened at $105.91 on Friday. The firm 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. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global has a 1-year low of $70.27 and a 1-year high of $106.90. The business’s 50 day moving average is $98.33 and its 200-day moving average is $94.93.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. Equities research analysts predict that RB Global will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

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

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now directly owns 20,267 shares in the company, valued at approximately $1,983,125.95. This trade represents a 27.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Hedge funds have recently modified their holdings of the company. CoreCap Advisors LLC boosted its holdings in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 117 shares in the last quarter. MV Capital Management Inc. boosted its holdings in shares of RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 278 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 279 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 129 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of RB Global during the 4th quarter valued at $37,000. Institutional investors and hedge funds 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.