RB Global (NYSE:RBA) Price Target Raised to $125.00 at Raymond James

RB Global (NYSE:RBA) (TSE:RBA) had its price target hoisted by Raymond James from $118.00 to $125.00 in a research note published on Thursday,BayStreet.CA reports. They currently have an outperform rating on the business services provider’s stock.

Several other analysts have also commented on RBA. National Bankshares cut their target price on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets lifted their price objective on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. CIBC reduced their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada lifted their price target on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.50.

RB Global Trading Up 1.0 %

NYSE:RBA opened at $105.91 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global has a 52 week low of $70.27 and a 52 week high of $106.90. The business’s 50 day moving average is $98.33 and its two-hundred day moving average is $94.86. The company has a market cap of $19.61 billion, a PE ratio of 52.69, a P/E/G ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm posted $0.90 EPS. RB Global’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be issued a $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.10%. RB Global’s dividend payout ratio (DPR) is 57.14%.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 600 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RB Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after buying an additional 358,752 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of RB Global by 3.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider’s stock valued at $1,027,191,000 after acquiring an additional 352,530 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of RB Global by 9.8% in 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 purchasing an additional 753,700 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of RB Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock worth $357,434,000 after purchasing an additional 264,778 shares during the last quarter. Finally, Fiera Capital Corp increased its position in shares of RB Global by 17.3% during the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock worth $379,150,000 after purchasing an additional 557,407 shares in the last quarter. 95.37% of the stock is 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.