RB Global, Inc. (NYSE:RBA) Receives $128.00 Consensus Target Price from Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been given a consensus rating of “Buy” by the ten research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $128.00.

Several equities analysts recently commented on the stock. National Bank Financial upped their price target on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price target on RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. BMO Capital Markets reissued an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Zacks Research upgraded shares of RB Global from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Finally, Barclays reduced their price target on RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd.

RB Global Price Performance

Shares of NYSE:RBA opened at $84.24 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. RB Global has a 1-year low of $83.59 and a 1-year high of $119.58. The firm’s 50 day simple moving average is $107.80 and its two-hundred day simple moving average is $105.29. The company has a market capitalization of $15.60 billion, a P/E ratio of 36.15, a P/E/G ratio of 1.48 and a beta of 0.56.

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

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be issued a $0.33 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. RB Global’s payout ratio is currently 53.22%.

Insider Buying and Selling

In other news, Director Deborah Stein acquired 425 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RBA. BlackRock Inc. purchased a new position in RB Global in the 2nd quarter worth approximately $1,816,059,000. Jupiter Topco LLC acquired a new position in RB Global in the second quarter valued at about $514,871,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of RB Global by 6,120,490.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock worth $251,851,000 after acquiring an additional 2,448,196 shares during the last quarter. Norges Bank purchased a new position in shares of RB Global during the fourth quarter worth $231,813,000. Finally, Lazard Asset Management LLC purchased a new position in RB Global during the 1st quarter valued at about $210,091,000. Institutional investors and hedge funds 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.