RB Global (NYSE:RBA) Price Target Cut to $110.00 by Analysts at Barclays

RB Global (NYSE:RBA) (TSE:RBA) had its price objective lowered by Barclays from $121.00 to $110.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

A number of other research analysts have also issued reports on RBA. Zacks Research lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Raymond James Financial raised 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 research report on Tuesday, June 30th. Weiss Ratings cut shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $152.00 price objective on shares of RB Global in a research note on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.00.

RB Global Stock Down 1.6%

Shares of RB Global stock opened at $80.98 on Tuesday. The stock has a market capitalization of $14.68 billion, a P/E ratio of 34.75, a PEG ratio of 1.41 and a beta of 0.53. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $87.46 and a two-hundred day moving average price of $99.30. RB Global has a 12-month low of $78.05 and a 12-month high of $119.33.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating 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 company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. Equities analysts expect that RB Global will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

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

Insider Buying and Selling at RB Global

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

Institutional Investors Weigh In On RB Global

A number of institutional investors have recently added to or reduced their stakes in RBA. Personal CFO Solutions LLC raised its position in RB Global by 0.9% in the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 96 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in RB Global by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,516 shares of the business services provider’s stock valued at $526,000 after buying an additional 175 shares during the last quarter. Wealth Alliance LLC increased its stake in shares of RB Global by 5.0% in the 1st quarter. Wealth Alliance LLC now owns 3,928 shares of the business services provider’s stock valued at $376,000 after buying an additional 186 shares during the period. Fifth Third Wealth Advisors LLC raised its position in shares of RB Global by 3.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 6,352 shares of the business services provider’s stock worth $609,000 after acquiring an additional 197 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of RB Global by 0.4% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 45,546 shares of the business services provider’s stock valued at $4,354,000 after acquiring an additional 199 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

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.