Analysts Set RB Global, Inc. (NYSE:RBA) PT at $82.80

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned a consensus recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $82.80.

A number of research firms have commented on RBA. Raymond James lifted their target price on RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Royal Bank of Canada increased their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Scotiabank raised their price objective on RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 26th.

RB Global Trading Up 0.3 %

NYSE RBA opened at $73.33 on Friday. RB Global has a fifty-two week low of $51.07 and a fifty-two week high of $77.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35. The stock has a 50 day simple moving average of $73.82 and a two-hundred day simple moving average of $67.67. The stock has a market cap of $13.40 billion, a P/E ratio of 86.26, a price-to-earnings-growth ratio of 5.55 and a beta of 0.87.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Friday, February 23rd. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 134.5% compared to the same quarter last year. On average, analysts forecast that RB Global will post 1.88 earnings per share for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.47%. RB Global’s dividend payout ratio is presently 127.06%.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the sale, the insider now directly owns 21,103 shares in the company, valued at approximately $1,625,986.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Darren Jeffrey Watt sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total transaction of $84,755.00. Following the transaction, the insider now directly owns 21,103 shares in the company, valued at approximately $1,625,986.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the sale, the executive now directly owns 30,915 shares in the company, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Insiders sold a total of 14,816 shares of company stock worth $1,133,055 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of RB Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of RB Global during the third quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of RB Global in the third quarter valued at approximately $26,000. Oakworth Capital Inc. boosted its position in RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after acquiring an additional 162 shares during the last quarter. Cornerstone Planning Group LLC acquired a new stake in RB Global during the second quarter worth approximately $45,000. Finally, Belpointe Asset Management LLC boosted its holdings in shares of RB Global by 134.7% in the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.