Analysts Set RB Global, Inc. (NYSE:RBA) PT at $126.13

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $126.1250.

RBA has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their price target on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a report on Tuesday, May 26th. Stephens reissued an “equal weight” rating and set a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Barclays initiated coverage on RB Global in a report on Thursday, May 28th. They set an “overweight” rating and a $124.00 price target for the company. Finally, BMO Capital Markets reissued an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th.

Insiders Place Their Bets

In other news, Director Deborah Stein acquired 425 shares of RB Global stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of RB Global by 6,120,490.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock valued at $251,851,000 after buying an additional 2,448,196 shares during the period. Norges Bank acquired a new stake in shares of RB Global in the fourth quarter valued at about $231,813,000. Lazard Asset Management LLC acquired a new stake in shares of RB Global in the first quarter valued at about $210,091,000. EdgePoint Investment Group Inc. boosted its position in shares of RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock valued at $845,337,000 after purchasing an additional 1,111,217 shares in the last quarter. Finally, Kensico Capital Management Corp boosted its position in shares of RB Global by 152.0% during the 3rd quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock valued at $113,128,000 after purchasing an additional 629,700 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE RBA opened at $115.42 on Friday. The stock has a market capitalization of $21.46 billion, a PE ratio of 53.68, a P/E/G ratio of 1.84 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The business has a fifty day moving average price of $105.89 and a two-hundred day moving average price of $105.25. RB Global has a fifty-two week low of $93.58 and a fifty-two week high of $119.58.

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

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, May 27th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global’s payout ratio is currently 57.67%.

About RB Global

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.