Analysts Set RB Global, Inc. (NYSE:RBA) Target Price at $92.19

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $92.19.

A number of equities analysts recently issued reports on 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 note on Monday, August 26th. BMO Capital Markets initiated coverage on shares of RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target for the company. Robert W. Baird increased their target price on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Raymond James boosted their price target on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada increased their price objective on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now owns 23,267 shares in the company, valued at $1,837,162.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at $1,837,162.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO James J. Jeter sold 3,000 shares of RB Global stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the transaction, the executive now owns 20,267 shares in the company, valued at $1,733,841.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,601 shares of company stock worth $3,720,043 in the last three months. 4.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vontobel Asset Management Inc. boosted its position in shares of RB Global by 66.5% in the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after purchasing an additional 2,655,388 shares during the period. Vanguard Group Inc. increased its stake in RB Global by 5.1% in 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 buying an additional 1,153,497 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock valued at $102,154,000 after acquiring an additional 787,042 shares during the period. CIBC Asset Management Inc lifted its position in shares of RB Global by 1,879.0% in the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after acquiring an additional 594,941 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of RB Global by 3,387.9% in the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after acquiring an additional 594,199 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Performance

Shares of NYSE:RBA opened at $81.21 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The company has a market cap of $14.97 billion, a price-to-earnings ratio of 48.92, a price-to-earnings-growth ratio of 5.22 and a beta of 0.93. RB Global has a 12 month low of $58.85 and a 12 month high of $87.45. The company has a 50-day moving average price of $82.11 and a 200-day moving average price of $78.11.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that RB Global will post 1.92 EPS for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were issued a $0.29 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 1.43%. RB Global’s dividend payout ratio is currently 69.88%.

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.