RB Global, Inc. (NYSE:RBA) Stock Has Consensus Price Target of $127.57 According to Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $127.57.

Several research firms recently issued reports on RBA. 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. Royal Bank Of Canada reissued an “outperform” rating and set a $152.00 price objective on shares of RB Global in a research note on Wednesday, September 23rd. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price for the company in a report on Tuesday, June 30th. Finally, Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th.

RB Global Stock Performance

Shares of NYSE RBA opened at $82.52 on Tuesday. The stock’s 50-day moving average is $88.17 and its 200 day moving average is $99.42. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 35.42, a P/E/G ratio of 1.40 and a beta of 0.53. RB Global has a 1-year low of $78.05 and a 1-year high of $119.33. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. The company had revenue of $1.66 billion for 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, sell-side analysts anticipate that RB Global will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Tuesday, August 25th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.6%. This is an increase from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, August 25th. RB Global’s dividend payout ratio (DPR) is presently 56.65%.

Insider Buying and Selling at RB Global

In related news, Director Deborah Stein acquired 500 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was acquired at an average cost of $80.91 per share, for a total transaction of $40,455.00. Following the acquisition, the director owned 2,325 shares of the company’s stock, valued at $188,115.75. This trade represents a 27.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Chloe Harford bought 1,200 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $83.74 per share, with a total value of $100,488.00. Following the completion of the transaction, the director owned 1,200 shares in the company, valued at approximately $100,488. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by corporate insiders.

Institutional Trading of RB Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its position in RB Global by 9.2% in the first quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider’s stock worth $19,873,000 after buying an additional 17,489 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of RB Global by 127.3% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 26,343 shares of the business services provider’s stock valued at $3,068,000 after acquiring an additional 14,755 shares during the period. Bank of America Corp DE increased its holdings in RB Global by 7.8% in the 1st quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider’s stock worth $139,216,000 after acquiring an additional 104,560 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in RB Global during the 2nd quarter worth approximately $17,590,000. Finally, Moore Capital Management LP raised its stake in RB Global by 125.0% during the 4th quarter. Moore Capital Management LP now owns 305,557 shares of the business services provider’s stock worth $31,433,000 after acquiring an additional 169,755 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

About RB Global

RB Global, Inc (NYSE: RBA) is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.