RB Global (NYSE:RBA) Stock Price Target Raised at Barclays

RB Global (NYSE:RBA – Free Report) (TSE:RBA) had its target price boosted by Barclays from $110.00 to $112.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

RBA has been the topic of several other research reports. Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Zacks Research downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Royal Bank Of Canada cut their target price on shares of RB Global from $152.00 to $134.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, National Bank Financial raised their target price on shares of RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and an average target price of $125.67.

Get Our Latest Analysis on RBA

RB Global Stock Down 0.5%

Shares of RBA opened at $95.62 on Wednesday. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 36.78, a PEG ratio of 1.64 and a beta of 0.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.22 and a current ratio of 1.31. The business’s fifty day moving average price is $85.42 and its two-hundred day moving average price is $99.11. RB Global has a 52 week low of $78.05 and a 52 week high of $119.33.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last released its earnings results on Monday, November 9th. The business services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.16 billion. RB Global had a return on equity of 13.97% and a net margin of 10.29%. On average, analysts predict that RB Global will post 4.06 earnings per share for the current year.

RB Global announced that its Board of Directors has approved a share repurchase program on Tuesday, September 15th that authorizes the company to repurchase $500 million in shares. This buyback authorization authorizes the business services provider to buy up to 3.3% of its shares through open market purchases. Share buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Wednesday, November 25th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, November 25th. RB Global’s dividend payout ratio (DPR) is currently 56.65%.

Insiders Place Their Bets

In related news, Director Chloe Harford bought 1,200 shares of the business’s stock in a transaction on Monday, August 24th. The shares were purchased at an average price of $83.74 per share, with a total value of $100,488.00. Following the completion of the purchase, the director owned 1,200 shares of the company’s stock, valued at $100,488. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Deborah Stein bought 500 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was bought at an average cost of $80.91 per share, for a total transaction of $40,455.00. Following the purchase, the director directly owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The SEC filing for this purchase provides additional information. 0.57% of the stock is owned by insiders.

Institutional Trading of RB Global

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in RB Global in the second quarter valued at approximately $1,816,059,000. EdgePoint Investment Group Inc. grew its holdings in shares of RB Global by 14.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock valued at $845,337,000 after buying an additional 1,111,217 shares during the period. Royal Bank of Canada grew its holdings in shares of RB Global by 13.1% in the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock valued at $483,432,000 after buying an additional 585,617 shares during the period. Jupiter Topco LLC acquired a new stake in RB Global during the 2nd quarter worth $514,871,000. Finally, Janus Henderson Group PLC raised its stake in RB Global by 7.0% during the 1st quarter. Janus Henderson Group PLC now owns 4,371,610 shares of the business services provider’s stock worth $418,876,000 after buying an additional 285,713 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

About RB Global

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RB Global operates a global marketplace for commercial assets and vehicles, connecting sellers with buyers through live auctions, online platforms and other sales channels. Its offerings include asset marketing and disposition services, along with support such as inspections and transaction services. The company serves businesses, governments and other organizations across industries including construction, transportation, agriculture, mining and energy. Through its IAA business, it also facilitates sales of salvage and used vehicles to buyers such as licensed dealers and vehicle rebuilders.

Further Reading

Analyst Recommendations for RB Global (NYSE:RBA)

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