RB Global (NYSE:RBA) Given New $116.00 Price Target at Royal Bank of Canada

RB Global (NYSE:RBA - Free Report) TSE: RBA had its target price increased by Royal Bank of Canada from $107.00 to $116.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the business services provider's stock.

Other analysts have also recently issued reports about the company. CIBC reduced 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. StockNews.com raised shares of RB Global from a "hold" rating to a "buy" rating in a research report on Monday, January 27th. Robert W. Baird lifted their price objective on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, BMO Capital Markets upped their target price on RB Global from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $107.64.

RB Global Trading Down 0.9 %

Shares of RB Global stock traded down $0.92 on Wednesday, hitting $102.61. The stock had a trading volume of 1,232,018 shares, compared to its average volume of 1,047,088. The stock has a 50 day moving average of $91.78 and a 200 day moving average of $88.25. RB Global has a twelve month low of $67.15 and a twelve month high of $106.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a market capitalization of $18.95 billion, a P/E ratio of 51.05, a PEG ratio of 4.36 and a beta of 0.96.

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

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. RB Global's dividend payout ratio is 57.71%.

Hedge Funds Weigh In On RB Global

A number of large investors have recently modified their holdings of RBA. Creative Planning lifted its stake in shares of RB Global by 27.6% in the third quarter. Creative Planning now owns 19,811 shares of the business services provider's stock valued at $1,595,000 after buying an additional 4,285 shares in the last quarter. Blue Trust Inc. lifted its position in RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock valued at $113,000 after acquiring an additional 157 shares in the last quarter. Signaturefd LLC boosted its stake in RB Global by 21.3% during the 3rd quarter. Signaturefd LLC now owns 3,699 shares of the business services provider's stock valued at $298,000 after purchasing an additional 649 shares during the last quarter. International Assets Investment Management LLC bought a new stake in RB Global during the 3rd quarter worth approximately $1,057,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of RB Global by 8.3% in the third quarter. Assenagon Asset Management S.A. now owns 10,141 shares of the business services provider's stock worth $817,000 after purchasing an additional 781 shares during the last quarter. 95.37% of the stock is currently 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.