RB Global, Inc. (NYSE:RBA) Receives $100.36 Consensus Target Price from Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $100.36.

A number of research firms have recently issued reports on RBA. Robert W. Baird raised their price objective on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets lifted their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, CIBC lifted their target price on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a report on Thursday, December 12th.

RB Global Stock Performance

Shares of NYSE RBA opened at $89.24 on Friday. The stock has a 50 day moving average price of $93.22 and a 200 day moving average price of $85.95. RB Global has a 52 week low of $60.84 and a 52 week high of $99.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market capitalization of $16.49 billion, a PE ratio of 48.50, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were paid a $0.29 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. RB Global’s payout ratio is presently 63.04%.

Hedge Funds Weigh In On RB Global

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Central Pacific Bank Trust Division purchased a new position in RB Global in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc lifted its position in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares in the last quarter. UMB Bank n.a. lifted its position in shares of RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 388 shares in the last quarter. Quarry LP purchased a new stake in shares of RB Global during the second quarter worth $53,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of RB Global by 25.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.