RB Global, Inc. (NYSE:RBA) Receives $107.64 Consensus Target Price from Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $107.64.

Several analysts have issued reports on the company. CIBC lowered their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com downgraded shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. BMO Capital Markets lifted their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James upped their price target on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the transaction, the executive now owns 20,267 shares of the company’s stock, valued at $1,983,125.95. The trade was a 27.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock valued at $2,338,161 in the last three months. Company insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On RB Global

A number of large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of RB Global by 18.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider’s stock worth $441,000 after acquiring an additional 752 shares in the last quarter. Members Wealth LLC bought a new position in shares of RB Global during the 4th quarter valued at $2,738,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in RB Global in the 4th quarter worth $3,590,000. Ascent Group LLC lifted its stake in RB Global by 2.7% in the fourth quarter. Ascent Group LLC now owns 11,285 shares of the business services provider’s stock worth $1,018,000 after purchasing an additional 295 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. purchased a new position in shares of RB Global in the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

RBA opened at $100.31 on Friday. RB Global has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The firm has a 50-day moving average of $96.80 and a 200 day moving average of $91.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a market cap of $18.53 billion, a P/E ratio of 49.91, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business earned $0.82 EPS. On average, research analysts expect that RB Global will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

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.