BMO Capital Markets Raises RB Global (NYSE:RBA) Price Target to $107.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective hoisted by BMO Capital Markets from $105.00 to $107.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Other analysts have also issued reports about the stock. Bank of America upped their price target on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Raymond James boosted their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird raised their target price on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Royal Bank of Canada boosted their price target on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.36.

RB Global Stock Up 1.3 %

NYSE:RBA opened at $92.36 on Monday. RB Global has a twelve month low of $59.11 and a twelve month high of $94.85. The firm has a market capitalization of $17.03 billion, a price-to-earnings ratio of 50.20, a price-to-earnings-growth ratio of 4.47 and a beta of 0.92. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $84.30 and its two-hundred day moving average price is $80.21.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.26%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is 63.04%.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $83.09, for a total value of $1,485,898.47. Following the completion of the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,166,263.23. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 3,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the sale, the executive now owns 20,267 shares in the company, valued at $1,733,841.85. This represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,681 shares of company stock valued at $3,489,480 in the last quarter. Company insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of institutional investors have recently modified their holdings of RBA. SG Americas Securities LLC boosted its stake in RB Global by 365.3% in the first quarter. SG Americas Securities LLC now owns 18,069 shares of the business services provider’s stock valued at $1,376,000 after buying an additional 14,186 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of RB Global by 4.9% in the 1st quarter. Orion Portfolio Solutions LLC now owns 15,359 shares of the business services provider’s stock valued at $1,170,000 after purchasing an additional 713 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of RB Global during the 1st quarter valued at approximately $613,000. Vanguard Group Inc. increased its position in RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after purchasing an additional 1,153,497 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in RB Global by 29.4% in the 1st quarter. Hillsdale Investment Management Inc. now owns 132,100 shares of the business services provider’s stock valued at $10,066,000 after purchasing an additional 30,000 shares during the last quarter. 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.