Analysts Set RB Global, Inc. (NYSE:RBA) Price Target at $124.13

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $124.1250.

RBA has been the subject of a number of analyst reports. National Bank Financial upgraded shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a report on Monday, November 24th. Royal Bank Of Canada boosted their target price on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Raymond James Financial upped their target price on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. National Bankshares cut their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a report on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of RB Global in a research report on Thursday.

Insider Activity

In related news, Director Deborah Stein acquired 1,000 shares of the stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This trade represents a 16.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On RB Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBA. MJP Associates Inc. ADV grew its position in shares of RB Global by 2.2% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock worth $471,000 after buying an additional 95 shares during the period. Geneos Wealth Management Inc. boosted its stake in RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after acquiring an additional 97 shares in the last quarter. Archer Investment Corp grew its holdings in RB Global by 6.0% in the second quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock worth $187,000 after purchasing an additional 100 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of RB Global by 5.4% during the third 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RB Global by 12.9% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Up 1.2%

Shares of RB Global stock opened at $116.96 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23. RB Global has a 52-week low of $86.68 and a 52-week high of $119.58. The company’s 50 day moving average price is $104.52 and its 200-day moving average price is $107.35. The stock has a market capitalization of $21.74 billion, a price-to-earnings ratio of 55.96, a P/E/G ratio of 2.17 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.10. RB Global had a net margin of 9.65% and a return on equity of 9.66%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, February 9th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global’s payout ratio is currently 59.33%.

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.