BMO Capital Markets Forecasts Strong Price Appreciation for RB Global (NYSE:RBA) Stock

RB Global (NYSE:RBA - Free Report) TSE: RBA had its price target upped by BMO Capital Markets from $116.00 to $120.00 in a research note released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider's stock.

A number of other brokerages have also commented on RBA. Raymond James increased their price objective on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a report on Wednesday. Royal Bank of Canada increased their price objective on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a report on Wednesday. StockNews.com raised RB Global from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Robert W. Baird increased their price objective on RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, CIBC lowered their target price on RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, RB Global has a consensus rating of "Moderate Buy" and an average target price of $107.64.

RB Global Stock Down 0.9 %

Shares of RBA traded down $0.92 during midday trading on Wednesday, reaching $102.61. 1,260,994 shares of the stock were exchanged, compared to its average volume of 1,047,941. RB Global has a 12-month low of $67.15 and a 12-month high of $106.90. The firm has a 50 day simple moving average of $91.94 and a 200-day simple moving average of $88.46. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 51.05, a P/E/G ratio of 4.36 and a beta of 0.96.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the prior year, the company posted $0.82 EPS. Research analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, February 14th. RB Global's dividend payout ratio (DPR) is currently 57.71%.

Institutional Trading of RB Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of RB Global by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider's stock worth $3,674,000 after acquiring an additional 113 shares during the period. CoreCap Advisors LLC lifted its position in shares of RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after acquiring an additional 117 shares during the period. Jones Financial Companies Lllp lifted its position in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares during the period. Weil Company Inc. lifted its position in shares of RB Global by 1.2% in the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider's stock worth $912,000 after acquiring an additional 132 shares during the period. Finally, Summit Trail Advisors LLC lifted its position in shares of RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock worth $279,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

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.