RB Global, Inc. (NYSE:RBA) Receives $129.29 Consensus Price Target from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned an average rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $129.2857.

A number of equities analysts have recently commented on RBA shares. BMO Capital Markets raised their target price on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Raymond James Financial boosted their price target on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Finally, National Bank Financial upgraded 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.

RB Global Trading Up 0.9%

NYSE RBA opened at $99.95 on Friday. The stock has a market cap of $18.58 billion, a PE ratio of 49.00, a PEG ratio of 1.50 and a beta of 0.57. RB Global has a 12 month low of $87.87 and a 12 month high of $119.58. The company’s 50-day moving average price is $108.08 and its 200-day moving average price is $105.96. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. Equities research analysts forecast that RB Global will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, February 9th. RB Global’s payout ratio is presently 60.78%.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company’s stock, valued at $12,370,435. This represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of RB Global by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after purchasing an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in RB Global by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock worth $1,120,479,000 after buying an additional 165,260 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in RB Global by 11.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock worth $792,934,000 after buying an additional 821,319 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after buying an additional 672,450 shares during the period. Finally, State Street Corp lifted its holdings in RB Global by 1.7% during the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock worth $647,118,000 after buying an additional 104,286 shares during the period. Institutional investors own 95.37% of the company’s stock.

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.