Analysts Set RB Global, Inc. (NYSE:RBA) PT at $100.36

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA has received an average rating of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $100.36.

RBA has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Robert W. Baird raised their target price 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. Royal Bank of Canada upped their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Bank of America increased their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a report on Monday, August 26th. Finally, CIBC boosted their target price on RB Global from $102.00 to $109.00 and gave the stock an "outperformer" rating in a report on Thursday, December 12th.

Insider Activity

In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction 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 represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.32% of the stock is owned by insiders.

Institutional Investors Weigh In On RB Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in shares of RB Global by 196.0% in the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider's stock valued at $47,000 after purchasing an additional 388 shares during the period. Quarry LP acquired a new position in RB Global in the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC raised its holdings in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock worth $64,000 after acquiring an additional 210 shares during the period. Covestor Ltd lifted its position in RB Global by 533.1% during the 3rd quarter. Covestor Ltd now owns 804 shares of the business services provider's stock worth $65,000 after acquiring an additional 677 shares during the last quarter. Finally, Hollencrest Capital Management lifted its position in RB Global by 99.8% during the 3rd quarter. Hollencrest Capital Management now owns 875 shares of the business services provider's stock worth $70,000 after acquiring an additional 437 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Stock Performance

RBA traded down $2.79 during trading hours on Wednesday, hitting $90.83. The company's stock had a trading volume of 758,462 shares, compared to its average volume of 998,457. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. RB Global has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. The company has a 50-day simple moving average of $90.49 and a 200 day simple moving average of $83.88. The firm has a market capitalization of $16.75 billion, a PE ratio of 49.36, a PEG ratio of 4.56 and a beta of 0.95.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. RB Global's dividend payout ratio (DPR) is 63.04%.

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.