RB Global (NYSE:RBA) Price Target Cut to $114.00 by Analysts at Bank of America

RB Global (NYSE:RBA) (TSE:RBA) had its price objective cut by Bank of America from $120.00 to $114.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the stock. National Bankshares cut their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 9th. CIBC lifted their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Royal Bank Of Canada upped their price objective on shares of RB Global from $125.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, BMO Capital Markets raised their target price on RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.71.

RB Global Trading Up 4.4%

Shares of RBA stock traded up $4.22 on Friday, reaching $100.43. 1,758,910 shares of the company’s stock were exchanged, compared to its average volume of 1,093,170. RB Global has a 52 week low of $85.55 and a 52 week high of $119.58. The stock has a market capitalization of $18.65 billion, a PE ratio of 49.72, a P/E/G ratio of 2.48 and a beta of 0.65. The company’s fifty day simple moving average is $107.67 and its 200 day simple moving average is $107.54. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is 59.33%.

Insider Transactions at RB Global

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

Several large investors have recently made changes to their positions in RBA. Vanguard Group Inc. lifted its stake in RB Global by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock worth $2,744,455,000 after purchasing an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in RB Global by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock worth $1,162,370,000 after buying an additional 705,423 shares during the period. Vontobel Holding Ltd. lifted its holdings in RB Global by 10.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after buying an additional 672,450 shares in the last quarter. Geode Capital Management LLC boosted its position in RB Global by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,552,803 shares of the business services provider’s stock valued at $482,383,000 after buying an additional 317,781 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of RB Global by 4.9% in the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after acquiring an additional 190,408 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.