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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $100.36.

RBA has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Robert W. Baird upped their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets increased their price target 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, CIBC raised their price objective on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a report on Thursday, December 12th.

Hedge Funds Weigh In On RB Global

Several hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI raised its stake in RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after purchasing an additional 610,843 shares during the last quarter. FMR LLC grew its holdings in shares of RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after buying an additional 445,004 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of RB Global by 57.1% in the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after buying an additional 357,761 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after buying an additional 354,803 shares in the last quarter. Finally, Canoe Financial LP boosted its position in RB Global by 22.0% during the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after acquiring an additional 255,484 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 0.2 %

Shares of RBA stock opened at $89.81 on Friday. RB Global has a twelve month low of $60.84 and a twelve month high of $99.79. The stock has a market cap of $16.59 billion, a P/E ratio of 48.81, a P/E/G ratio of 3.34 and a beta of 0.96. The stock has a 50 day moving average of $93.27 and a 200 day moving average of $85.79. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.29%. RB Global’s payout ratio is currently 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.