Brokerages Set RB Global, Inc. (NYSE:RBA) PT at $122.71

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $122.7143.

Several research firms have recently commented on RBA. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada increased their target price on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Bank of America dropped their target price on RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. National Bankshares cut their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. Finally, BMO Capital Markets raised their price objective on shares of RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th.

RB Global Price Performance

Shares of RBA opened at $101.89 on Friday. The firm has a 50-day simple moving average of $106.83 and a two-hundred day simple moving average of $107.67. The stock has a market cap of $18.92 billion, a PE ratio of 50.44, a P/E/G ratio of 2.48 and a beta of 0.65. RB Global has a 1-year low of $86.68 and a 1-year high of $119.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company posted $0.71 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is currently 59.33%.

Insider Activity at RB Global

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

Several large investors have recently bought and sold shares of RBA. LBP AM SA boosted its stake in shares of RB Global by 51.7% in the 1st quarter. LBP AM SA now owns 38,128 shares of the business services provider’s stock valued at $3,824,000 after buying an additional 12,995 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock worth $106,000 after purchasing an additional 104 shares during the last quarter. Allworth Financial LP grew its stake in shares of RB Global by 1,870.9% during the first quarter. Allworth Financial LP now owns 1,084 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,029 shares in the last quarter. Cerity Partners LLC increased its holdings in RB Global by 5.8% in the first quarter. Cerity Partners LLC now owns 6,363 shares of the business services provider’s stock valued at $638,000 after buying an additional 351 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in RB Global by 0.9% in the first quarter. State of Michigan Retirement System now owns 44,100 shares of the business services provider’s stock valued at $4,423,000 after buying an additional 400 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.