Raymond James Issues Positive Forecast for RB Global (NYSE:RBA) Stock Price

RB Global (NYSE:RBA) (TSE:RBA) had its price target lifted by Raymond James from $110.00 to $118.00 in a research note published on Wednesday morning,Benzinga reports. Raymond James currently has an outperform rating on the business services provider’s stock. Raymond James also issued estimates for RB Global’s Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.74 EPS and FY2026 earnings at $2.71 EPS.

A number of other brokerages have also recently issued reports on RBA. Royal Bank of Canada increased their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets raised their price objective on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird raised their price objective on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday. CIBC dropped their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Finally, StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Performance

Shares of RBA stock opened at $102.61 on Wednesday. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 4.36 and a beta of 0.96. RB Global has a 52 week low of $67.15 and a 52 week high of $106.90. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $91.94 and a 200-day moving average of $88.46.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts forecast that RB Global will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is currently 57.71%.

Institutional Investors Weigh In On RB Global

Large investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in RB Global in the 4th quarter worth about $27,000. CIBC Asset Management Inc grew its holdings in RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after buying an additional 357,761 shares in the last quarter. Diversified Trust Co grew its holdings in RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after buying an additional 20,724 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after buying an additional 20,795 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in RB Global by 16.1% during the 3rd quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock valued at $3,489,000 after buying an additional 6,000 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, 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.