Analysts Set RB Global, Inc. (NYSE:RBA) PT at $128.00

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $128.00.

Several brokerages have weighed in on RBA. Royal Bank Of Canada increased their price target on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings lowered RB Global from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a report on Tuesday, June 30th. Finally, Barclays reduced their target price on RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd.

RB Global Stock Performance

RB Global stock opened at $80.52 on Friday. The firm has a fifty day simple moving average of $97.85 and a two-hundred day simple moving average of $101.59. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. RB Global has a twelve month low of $79.75 and a twelve month high of $119.58. The company has a market capitalization of $14.91 billion, a PE ratio of 34.56, a P/E/G ratio of 1.39 and a beta of 0.52.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Research analysts expect that RB Global will post 4.06 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.6%. RB Global’s dividend payout ratio (DPR) is currently 56.65%.

Insider Activity

In related news, Director Deborah Stein bought 500 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were purchased at an average price of $80.91 per share, with a total value of $40,455.00. Following the purchase, the director owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chloe Harford purchased 1,200 shares of RB Global stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the transaction, the director directly owned 1,200 shares of the company’s stock, valued at $100,488. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Addison Advisors LLC purchased a new position in shares of RB Global in the 2nd quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new stake in RB Global in the fourth quarter worth $29,000. J.Safra Asset Management Corp purchased a new stake in RB Global in the second quarter worth $32,000. Bayban bought a new position in RB Global in the fourth quarter worth $34,000. Finally, Integrated Wealth Concepts LLC purchased a new position in RB Global during the second quarter valued at $35,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

About RB Global

RB Global, Inc (NYSE: RBA) operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.