RB Global (NYSE:RBA) Price Target Raised to $133.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price raised by National Bank Financial from $132.00 to $133.00 in a report released on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the business services provider’s stock.

RBA has been the subject of several other reports. Royal Bank Of Canada upped their price objective on shares of RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, June 30th. Weiss Ratings raised RB Global from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $128.00.

RB Global Stock Up 2.1%

Shares of NYSE:RBA opened at $94.65 on Wednesday. The stock has a market capitalization of $17.52 billion, a P/E ratio of 40.62, a price-to-earnings-growth ratio of 1.54 and a beta of 0.56. The stock’s 50-day moving average price is $109.42 and its 200-day moving average price is $106.23. The company has a current ratio of 1.31, a quick ratio of 1.07 and a debt-to-equity ratio of 0.51. RB Global has a 12-month low of $92.15 and a 12-month high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. On average, equities analysts anticipate that RB Global will post 4.16 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is presently 53.22%.

Insider Activity

In related news, Director Deborah Stein bought 425 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the acquisition, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

Large investors have recently bought and sold shares of the company. MV Capital Management Inc. purchased a new position in RB Global in the 4th quarter worth approximately $29,000. J.Safra Asset Management Corp purchased a new stake in shares of RB Global in the second quarter valued at approximately $32,000. Bayban acquired a new stake in shares of RB Global in the fourth quarter valued at approximately $34,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RB Global in the first quarter valued at approximately $43,000. Finally, State of Wyoming purchased a new position in RB Global during the second quarter worth approximately $46,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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.