RB Global (NYSE:RBA – Free Report) (TSE:RBA) had its target price trimmed by Barclays from $121.00 to $110.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.
A number of other equities research analysts have also recently weighed in on RBA. National Bank Financial decreased their price objective on RB Global from $133.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Monday, September 14th. Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. Zacks Research downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a report 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 price target for the company in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.
Get Our Latest Stock Analysis on RB Global
RB Global Stock Performance
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last posted its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. On average, sell-side analysts predict that RB Global will post 4.06 earnings per share for the current fiscal year.
RB Global Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th were paid a $0.33 dividend. 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 was Tuesday, August 25th. RB Global’s dividend payout ratio (DPR) is 56.65%.
Insider Activity
In other RB Global news, Director Chloe Harford purchased 1,200 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the purchase, the director owned 1,200 shares of the company’s stock, valued at approximately $100,488. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah Stein acquired 500 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were bought at an average price of $80.91 per share, for a total transaction of $40,455.00. Following the acquisition, the director owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. This represents a 27.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Personal CFO Solutions LLC boosted its holdings in shares of 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 valued at $1,073,000 after acquiring an additional 96 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of RB Global by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 4,516 shares of the business services provider’s stock worth $526,000 after acquiring an additional 175 shares during the period. Wealth Alliance LLC raised its holdings in shares of RB Global by 5.0% during the first quarter. Wealth Alliance LLC now owns 3,928 shares of the business services provider’s stock worth $376,000 after purchasing an additional 186 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings 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 purchasing an additional 197 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ lifted its position in 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 purchasing an additional 199 shares during the period. Institutional investors and hedge funds 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.
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