RB Global (NYSE:RBA) Price Target Raised to $152.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price lifted by Royal Bank Of Canada from $150.00 to $152.00 in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the business services provider’s stock.

Several other research analysts also recently commented on RBA. Stephens reissued an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings raised RB Global from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Barclays lowered their price objective on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $128.00.

RB Global Price Performance

Shares of NYSE:RBA opened at $94.65 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.07 and a current ratio of 1.31. RB Global has a 52 week low of $92.15 and a 52 week high of $119.58. The firm has a market cap of $17.52 billion, a PE ratio of 40.62, a price-to-earnings-growth ratio of 1.54 and a beta of 0.56. The firm’s fifty day moving average is $109.42 and its 200-day moving average is $106.23.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.21 billion. Sell-side analysts predict that RB Global will post 4.16 earnings per share for the current year.

RB Global Increases Dividend

The company also recently announced 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 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 Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein acquired 425 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RBA. MV Capital Management Inc. acquired a new stake in shares of RB Global during the fourth quarter valued at about $29,000. J.Safra Asset Management Corp acquired a new position in shares of RB Global in the 2nd quarter worth approximately $32,000. Bayban purchased a new position in shares of RB Global during the 4th quarter worth approximately $34,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of RB Global during the 1st quarter worth approximately $43,000. Finally, State of Wyoming acquired a new stake in RB Global in the 2nd quarter valued at approximately $46,000. Hedge funds and other 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.