Analysts Set RB Global, Inc. (NYSE:RBA) Price Target at $88.43

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $88.43.

Several brokerages recently commented on RBA. Raymond James boosted their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Royal Bank of Canada upped their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Robert W. Baird lifted their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank upped their target price on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Finally, Bank of America lifted their price target on RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th.

RB Global Trading Up 1.0 %

NYSE:RBA opened at $83.12 on Thursday. RB Global has a 1 year low of $55.67 and a 1 year high of $83.26. The stock’s fifty day moving average price is $78.69 and its two-hundred day moving average price is $75.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.20. The company has a market cap of $15.20 billion, a P/E ratio of 50.07, a P/E/G ratio of 5.69 and a beta of 0.91.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was down .9% compared to the same quarter last year. As a group, analysts expect that RB Global will post 1.96 EPS for the current year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.16 annualized dividend and a yield of 1.40%. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s payout ratio is 69.88%.

Insider Activity

In related news, CEO James Francis Kessler sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the sale, the chief executive officer now owns 78,104 shares in the company, valued at approximately $6,319,394.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other RB Global news, CRO James J. Jeter sold 5,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $76.14, for a total transaction of $380,700.00. Following the completion of the sale, the executive now directly owns 23,267 shares in the company, valued at $1,771,549.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Francis Kessler sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the sale, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at approximately $6,319,394.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,557 shares of company stock worth $1,551,904. 4.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

Large investors have recently bought and sold shares of the stock. Advisor OS LLC grew its holdings in shares of RB Global by 1.9% in the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after purchasing an additional 156 shares during the last quarter. Oakworth Capital Inc. boosted its position in RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after buying an additional 162 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares during the period. Signaturefd LLC increased its position in shares of RB Global by 11.0% in the fourth quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 190 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.