RB Global (NYSE:RBA) Price Target Raised to $116.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price hoisted by Royal Bank of Canada from $107.00 to $116.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other research firms also recently commented on RBA. BMO Capital Markets lifted their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Robert W. Baird boosted their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. CIBC reduced their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Finally, StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Stock Down 0.9 %

RBA opened at $102.61 on Wednesday. The company has a market cap of $18.95 billion, a P/E ratio of 51.05, a P/E/G ratio of 4.36 and a beta of 0.96. The business’s 50-day moving average price is $91.94 and its 200-day moving average price is $88.46. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global has a 12 month low of $67.15 and a 12 month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, equities analysts expect that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

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

Institutional Trading of RB Global

Several large investors have recently bought and sold shares of RBA. Raymond James Financial Inc. bought a new stake in RB Global during the 4th quarter valued at approximately $266,148,000. Norges Bank bought a new stake in RB Global during the 4th quarter valued at approximately $209,931,000. FMR LLC boosted its position in RB Global by 137.5% during the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after acquiring an additional 1,623,429 shares in the last quarter. Vontobel Holding Ltd. boosted its position in RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after acquiring an additional 753,700 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after acquiring an additional 610,843 shares in the last quarter. 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.