RB Global (NYSE:RBA) Price Target Raised to $100.00

RB Global (NYSE:RBA) (TSE:RBA) had its price target upped by Robert W. Baird from $86.00 to $100.00 in a research note released on Monday,Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

RBA has been the topic of a number of other reports. Royal Bank of Canada raised their price objective on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America boosted their price objective on shares of RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. BMO Capital Markets assumed coverage on shares of RB Global in a research report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective for the company. Finally, Raymond James increased their price target on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.36.

RB Global Trading Down 1.9 %

RBA stock opened at $91.15 on Monday. RB Global has a 52 week low of $59.11 and a 52 week high of $94.85. The company has a market cap of $16.81 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 4.55 and a beta of 0.92. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $84.13 and a 200-day simple moving average of $80.13.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. RB Global’s payout ratio is currently 63.04%.

Insider Activity

In related news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the sale, the executive now directly owns 20,267 shares of the company’s stock, valued at $1,733,841.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,681 shares of company stock worth $3,489,480 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of hedge funds have recently bought and sold shares of RBA. Weil Company Inc. lifted its holdings in RB Global by 1.2% during the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after buying an additional 132 shares during the last quarter. Advisor OS LLC raised its position in shares of RB Global by 1.9% during the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after acquiring an additional 156 shares in the last quarter. Blue Trust Inc. lifted its stake in RB Global by 11.9% during the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after purchasing an additional 157 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after purchasing an additional 165 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 210 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.