RB Global (NYSE:RBA) Price Target Raised to $132.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price lifted by National Bank Financial from $130.00 to $132.00 in a research note published on Thursday,BayStreet reports. National Bank Financial currently has an outperform rating on the business services provider’s stock.

Several other equities research analysts also recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $152.00 price target on shares of RB Global in a research report on Wednesday, September 23rd. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Barclays dropped their target price on RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Finally, Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.29.

RB Global Stock Performance

Shares of RBA opened at $84.47 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The stock has a 50-day moving average of $84.34 and a two-hundred day moving average of $98.69. The stock has a market cap of $15.31 billion, a P/E ratio of 36.25, a P/E/G ratio of 1.44 and a beta of 0.53. RB Global has a one year low of $78.05 and a one year high of $119.33.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data 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. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, research analysts predict that RB Global will post 4.06 EPS for the current year.

RB Global Increases Dividend

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

Insider Buying and Selling at RB Global

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

Hedge Funds Weigh In On RB Global

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its position in shares of RB Global by 5.0% in the third quarter. Assenagon Asset Management S.A. now owns 7,310 shares of the business services provider’s stock valued at $598,000 after purchasing an additional 349 shares in the last quarter. Ninety One UK Ltd acquired a new position in RB Global during the third quarter worth $238,000. Avior Wealth Management LLC boosted its stake in RB Global by 15.8% during the third quarter. Avior Wealth Management LLC now owns 13,172 shares of the business services provider’s stock worth $1,072,000 after buying an additional 1,799 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in RB Global by 1.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 26,814 shares of the business services provider’s stock valued at $2,182,000 after buying an additional 471 shares in the last quarter. Finally, Diversified Management Inc. grew its holdings in RB Global by 13.4% in the 3rd quarter. Diversified Management Inc. now owns 4,537 shares of the business services provider’s stock valued at $369,000 after buying an additional 537 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.