RB Global, Inc. (NYSE:RBA) Receives $84.14 Average Price Target from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $84.14.

A number of equities research analysts have issued reports on the company. CIBC began coverage on RB Global in a research report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. Scotiabank boosted their price objective on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Finally, Bank of America boosted their price objective on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th.

RB Global Price Performance

Shares of NYSE:RBA opened at $76.43 on Wednesday. The company has a market cap of $13.97 billion, a P/E ratio of 46.04, a P/E/G ratio of 5.22 and a beta of 0.91. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. RB Global has a 52 week low of $55.54 and a 52 week high of $81.74. The business has a fifty day simple moving average of $75.41 and a 200-day simple moving average of $72.00.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Equities research analysts forecast that RB Global will post 2.04 EPS for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, May 29th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, May 29th. RB Global’s dividend payout ratio (DPR) is 65.06%.

Insider Buying and Selling

In related news, CEO James Francis Kessler sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now owns 78,104 shares in the company, valued at $6,319,394.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Baron Concors sold 13,230 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $75.05, for a total value of $992,911.50. Following the completion of the sale, the insider now directly owns 15,487 shares of the company’s stock, valued at $1,162,299.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Francis Kessler sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total value of $647,280.00. Following the completion of the sale, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,867 shares of company stock worth $3,370,272. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of RB Global

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oakworth Capital Inc. increased its holdings in RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after buying an additional 162 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. Signaturefd LLC grew its holdings in shares of RB Global by 11.0% during the fourth quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 190 shares during the last quarter. Ascent Group LLC grew its holdings in shares of RB Global by 2.4% during the first quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after purchasing an additional 225 shares during the last quarter. Finally, Atria Wealth Solutions Inc. grew its holdings in shares of RB Global by 4.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,386 shares of the business services provider’s stock valued at $360,000 after purchasing an additional 250 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

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.