Brokerages Set RB Global, Inc. (NYSE:RBA) Price Target at $127.12

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $128.00.

RBA has been the topic of a number of research reports. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, June 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Stephens reaffirmed an “equal weight” rating and set a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. Barclays initiated coverage on RB Global in a research note on Thursday, May 28th. They set an “overweight” rating and a $124.00 price objective for the company. Finally, Royal Bank Of Canada boosted their price objective on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th.

RB Global Price Performance

Shares of NYSE:RBA opened at $110.52 on Thursday. RB Global has a twelve month low of $93.58 and a twelve month high of $119.58. The company’s 50 day moving average is $108.16 and its 200 day moving average is $106.16. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. The company has a market cap of $20.55 billion, a PE ratio of 51.40, a price-to-earnings-growth ratio of 1.75 and a beta of 0.55.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. The company had revenue of $888.01 million during the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. RB Global’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.89 EPS. On average, sell-side analysts forecast that RB Global will post 4.16 EPS for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. RB Global’s payout ratio is presently 57.67%.

Insider Buying and Selling

In related news, Director Deborah Stein acquired 425 shares of the stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director owned 1,825 shares in the company, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On RB Global

Several large investors have recently made changes to their positions in RBA. Personal CFO Solutions LLC grew its stake in shares of RB Global by 0.9% during the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 96 shares during the period. Geneos Wealth Management Inc. grew its stake in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares during the last quarter. Covestor Ltd increased its holdings in RB Global by 11.6% during the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 97 shares in the last quarter. Coldstream Capital Management Inc. increased its position in RB Global by 5.4% during the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock worth $221,000 after buying an additional 105 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after buying an additional 107 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.