Brokerages Set RB Global, Inc. (NYSE:RBA) Target Price at $92.19

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA has been given an average rating of "Moderate Buy" by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $92.19.

RBA has been the subject of a number of research analyst reports. Royal Bank of Canada upped their target price on shares of RB Global from $93.00 to $99.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Raymond James increased their price objective on shares of RB Global from $95.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Robert W. Baird increased their price objective on shares of RB Global from $80.00 to $86.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. BMO Capital Markets assumed coverage on shares of RB Global in a research note on Thursday, September 5th. They set an "outperform" rating and a $105.00 price objective for the company. Finally, Bank of America increased 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.

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 2,920 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the sale, the executive now owns 23,267 shares in the company, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CRO James J. Jeter sold 2,920 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the transaction, the executive now owns 23,267 shares of the company's stock, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 3,000 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the transaction, 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 have sold a total of 44,601 shares of company stock worth $3,720,043 in the last quarter. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in RB Global by 5.1% in the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider's stock worth $1,827,528,000 after acquiring an additional 1,153,497 shares during the period. EdgePoint Investment Group Inc. raised its position in RB Global by 1.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider's stock worth $652,590,000 after acquiring an additional 114,225 shares during the period. Cooke & Bieler LP raised its position in shares of RB Global by 3.4% in the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider's stock valued at $252,865,000 after purchasing an additional 109,056 shares during the period. Fiera Capital Corp raised its position in shares of RB Global by 5.7% in the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider's stock valued at $239,881,000 after purchasing an additional 168,945 shares during the period. Finally, Boston Partners raised its position in shares of RB Global by 4.1% in the first quarter. Boston Partners now owns 3,029,758 shares of the business services provider's stock valued at $230,543,000 after purchasing an additional 120,469 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Trading Up 0.6 %

RBA stock traded up $0.54 during trading on Tuesday, hitting $86.63. The company had a trading volume of 480,795 shares, compared to its average volume of 1,027,397. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $83.31 and a 200-day moving average price of $78.87. RB Global has a 12 month low of $58.85 and a 12 month high of $87.45. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 47.97, a PEG ratio of 5.54 and a beta of 0.93.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts predict that RB Global will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Wednesday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.27. RB Global's dividend payout ratio is presently 65.17%.

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.