Analysts Set RB Global, Inc. (NYSE:RBA) Price Target at $98.36

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA has been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $98.36.

RBA has been the subject of a number of recent analyst reports. BMO Capital Markets increased their price objective on RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Raymond James increased their price target on 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 lifted their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Bank of America increased their target price on shares of RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th.

RB Global Stock Performance

NYSE RBA traded up $2.47 on Friday, hitting $97.81. The stock had a trading volume of 1,136,292 shares, compared to its average volume of 803,779. The company's 50-day moving average is $85.55 and its two-hundred day moving average is $81.16. RB Global has a one year low of $60.84 and a one year high of $97.83. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 53.16, a P/E/G ratio of 4.58 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.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global's payout ratio is 63.04%.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 17,883 shares of RB Global stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total value of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares of the company's stock, valued at approximately $7,261,134.93. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Weil Company Inc. boosted its position in shares of RB Global by 1.2% in the third 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 period. Advisor OS LLC lifted its stake in RB Global by 1.9% in the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider's stock worth $638,000 after acquiring an additional 156 shares in the last quarter. Blue Trust Inc. boosted its position in RB Global by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock worth $113,000 after acquiring an additional 157 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider's stock valued at $34,000 after acquiring an additional 165 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of RB Global by 33.5% in the 2nd 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 period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Company Profile

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.