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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $88.43.

RBA has been the subject of a number of recent analyst reports. CIBC started coverage on shares of RB Global in a research note on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price target for the company. Bank of America lifted their price target on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Raymond James upped their price objective on 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 lifted their target price on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Scotiabank increased their price target on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 24th.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the sale, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO James J. Jeter sold 5,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $76.14, for a total transaction of $380,700.00. Following the sale, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,771,549.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO James J. Jeter sold 2,920 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total transaction of $230,563.20. Following the sale, the executive now directly owns 23,267 shares of the company’s stock, valued at approximately $1,837,162.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,557 shares of company stock worth $1,551,904. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. YHB Investment Advisors Inc. bought a new position in RB Global in the first quarter valued at approximately $27,000. Oakworth Capital Inc. increased its stake in shares of RB Global by 53.3% in the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 162 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of RB Global during the 1st quarter worth $33,000. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 worth $34,000 after buying an additional 165 shares during the last quarter. Finally, Quarry LP acquired a new stake in RB Global in the second quarter valued at about $53,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Performance

RBA opened at $83.12 on Thursday. The business’s 50-day simple moving average is $78.69 and its 200 day simple moving average is $75.35. RB Global has a 52-week low of $55.67 and a 52-week high of $83.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The firm has a market capitalization of $15.20 billion, a PE ratio of 50.07, a PEG ratio of 5.69 and a beta of 0.91.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that RB Global will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is currently 69.88%.

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.