RB Global, Inc. (NYSE:RBA) Receives $98.36 Consensus Price Target from Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $98.36.

A number of research firms have issued reports on RBA. Robert W. Baird upped their price target on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Raymond James lifted their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets boosted their target price on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Bank of America increased their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th.

RB Global Price Performance

Shares of RB Global stock opened at $98.49 on Friday. RB Global has a 1-year low of $60.84 and a 1-year high of $99.79. The firm has a fifty day simple moving average of $85.55 and a 200-day simple moving average of $81.29. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 4.70 and a beta of 0.92.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. RB Global’s payout ratio is currently 63.04%.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $83.09, for a total value of $1,485,898.47. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,166,263.23. The trade was a 17.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On RB Global

Institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after buying an additional 165 shares in the last quarter. UMB Bank n.a. grew its position in RB Global by 196.0% during the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 388 shares during the last quarter. Quarry LP acquired a new stake in RB Global during the 2nd quarter valued at $53,000. Covestor Ltd raised its position in RB Global by 533.1% in the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 677 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

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.