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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $128.00.

Several equities analysts have recently weighed in on the company. Barclays reduced their price objective 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. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. 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 research report on Tuesday, May 5th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, June 30th. Finally, Weiss Ratings raised shares of RB Global from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd.

Insiders Place Their Bets

In related news, Director Deborah Stein purchased 425 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the acquisition, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of RB Global by 94.3% during the first quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after purchasing an additional 5,090 shares during the period. NewEdge Advisors LLC lifted its holdings in RB Global by 53.1% in the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after purchasing an additional 204 shares during the period. Jones Financial Companies Lllp grew its position in RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after buying an additional 3,346 shares in the last quarter. Goldman Sachs Group Inc. grew its position in RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after buying an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in RB Global during the 1st quarter valued at about $4,103,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Down 3.6%

Shares of NYSE RBA opened at $86.42 on Monday. 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 52 week low of $86.05 and a 52 week high of $119.58. The firm has a 50-day moving average price of $108.58 and a 200 day moving average price of $105.65. The stock has a market capitalization of $16.00 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts anticipate that RB Global will post 4.16 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be given a dividend of $0.33 per share. This is a positive change 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 dividend on an annualized basis and a yield of 1.5%. RB Global’s dividend payout ratio is currently 53.22%.

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.