RB Global, Inc. (NYSE:RBA) Receives $100.36 Average Target Price from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $100.36.

Several equities research analysts recently commented on RBA shares. Robert W. Baird raised their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. CIBC lifted their price target on shares of RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research note on Thursday, December 12th. Bank of America boosted their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. BMO Capital Markets lifted their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada boosted their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On RB Global

A number of institutional investors have recently made changes to their positions in RBA. Arlington Partners LLC boosted its position in RB Global by 22.3% during the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after buying an additional 8,961 shares during the period. CIBC Asset Management Inc raised its position in shares of RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after buying an additional 20,795 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in RB Global by 132.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 28,300 shares of the business services provider’s stock worth $2,158,000 after purchasing an additional 16,100 shares in the last quarter. Finally, Forsta AP Fonden raised its position in RB Global by 16.1% in the 3rd quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock valued at $3,489,000 after buying an additional 6,000 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

NYSE:RBA opened at $90.51 on Wednesday. RB Global has a twelve month low of $60.84 and a twelve month high of $99.79. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 4.56 and a beta of 0.95. 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 firm’s fifty day simple moving average is $91.13 and its 200 day simple moving average is $84.11.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a $0.29 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.28%. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

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.