Brokerages Set RB Global, Inc. (NYSE:RBA) Target Price at $114.50

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received an average rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $114.50.

Several equities analysts have issued reports on RBA shares. Royal Bank of Canada lifted their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. National Bankshares dropped their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird boosted their price target on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. BMO Capital Markets boosted their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Friday, May 9th.

Insider Activity

In other RB Global news, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This trade represents a 27.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew John Fesler sold 9,075 shares of RB Global stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider now owns 5,532 shares of the company’s stock, valued at $579,311.04. This trade represents a 62.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,472 shares of company stock worth $3,867,745 over the last three months. Insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

Several institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC boosted its position in RB Global by 69.5% in the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 7,737 shares during the period. Mawer Investment Management Ltd. increased its position in RB Global by 15.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock worth $10,876,000 after buying an additional 16,397 shares during the period. Vanguard Group Inc. raised its position in RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. MetLife Investment Management LLC raised its stake in RB Global by 9.2% during the 4th quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider’s stock valued at $9,376,000 after acquiring an additional 8,723 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in RB Global by 16.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 100,318 shares of the business services provider’s stock valued at $9,050,000 after acquiring an additional 13,836 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Trading Up 0.4%

Shares of NYSE:RBA opened at $108.64 on Friday. RB Global has a 1 year low of $70.27 and a 1 year high of $108.78. The stock’s fifty day moving average price is $99.16 and its 200-day moving average price is $95.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The company has a market cap of $20.11 billion, a P/E ratio of 54.05, a PEG ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts expect that RB Global will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s dividend payout ratio is presently 57.14%.

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.