Royal Bank of Canada Forecasts Strong Price Appreciation for RB Global (NYSE:RBA) Stock

RB Global (NYSE:RBA - Free Report) TSE: RBA had its price objective hoisted by Royal Bank of Canada from $99.00 to $107.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the business services provider's stock.

A number of other equities research analysts have also issued reports on RBA. Bank of America boosted their price target 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. BMO Capital Markets boosted their price target on shares of RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Monday. Robert W. Baird upped 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. Finally, Raymond James upped their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.36.

RB Global Trading Up 2.0 %

Shares of RBA stock traded up $1.84 during trading hours on Monday, reaching $93.70. 1,510,679 shares of the stock traded hands, compared to its average volume of 1,021,075. RB Global has a 1-year low of $58.85 and a 1-year high of $94.85. The business has a fifty day moving average price of $83.81 and a 200 day moving average price of $79.91. 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 market capitalization of $17.28 billion, a PE ratio of 50.92, a PEG ratio of 5.99 and a beta of 0.92.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global's dividend payout ratio is 63.04%.

Insiders Place Their Bets

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares of the company's stock, valued at $7,261,134.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CRO James J. Jeter sold 2,920 shares of the company'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 sale, the executive now directly owns 23,267 shares of the company's stock, valued at approximately $1,837,162.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 86,247 shares of the company's stock, valued at approximately $7,261,134.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,601 shares of company stock valued at $3,720,043 over the last ninety days. Corporate insiders own 4.32% of the company's stock.

Institutional Trading of RB Global

Large investors have recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of RB Global during the 1st quarter worth $613,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of RB Global by 25.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 366,625 shares of the business services provider's stock worth $27,927,000 after buying an additional 74,809 shares during the period. Arlington Partners LLC boosted its holdings in shares of RB Global by 22.3% during the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider's stock worth $3,958,000 after buying an additional 8,961 shares during the period. MJP Associates Inc. ADV boosted its holdings in shares of RB Global by 10.7% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,159 shares of the business services provider's stock worth $318,000 after buying an additional 401 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in shares of RB Global by 1,177.0% during the 1st quarter. Cetera Investment Advisers now owns 43,572 shares of the business services provider's stock worth $3,319,000 after buying an additional 40,160 shares during the period. 95.37% of the stock is owned by institutional investors.

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.