Analysts Set RB Global, Inc. (NYSE:RBA) Price Target at $126.43

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $126.1250.

RBA has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price target on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Stephens reaffirmed an “equal weight” rating and set a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday. Barclays initiated coverage on RB Global in a research report on Thursday. They set an “overweight” rating and a $124.00 price target on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th.

RB Global Stock Up 0.4%

RBA stock opened at $106.40 on Wednesday. The stock’s fifty day simple moving average is $101.97 and its two-hundred day simple moving average is $103.90. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. RB Global has a 1-year low of $93.58 and a 1-year high of $119.58. The stock has a market cap of $19.78 billion, a P/E ratio of 49.49, a P/E/G ratio of 1.69 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. Analysts expect that RB Global will post 4.09 EPS for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s dividend payout ratio is 57.67%.

Insider Transactions at RB Global

In related news, Director Deborah Stein acquired 425 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the acquisition, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of institutional investors have recently added to or reduced their stakes in RBA. Personal CFO Solutions LLC increased its stake in RB Global by 0.9% in the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock worth $1,073,000 after acquiring an additional 96 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Covestor Ltd increased its position in shares of RB Global by 11.6% during the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 97 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of RB Global by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 105 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of RB Global by 41.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 107 shares during the last quarter. 95.37% of the stock is currently owned by 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.