RB Global, Inc. (NYSE:RBA) Receives $128.00 Consensus Target Price from Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $128.00.

Several research firms have recently commented on RBA. National Bank Financial increased their target price on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their price objective on shares of RB Global from $150.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Barclays dropped their target price on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings downgraded RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Finally, Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th.

RB Global Stock Down 2.0%

Shares of NYSE RBA opened at $81.88 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. RB Global has a 1 year low of $81.50 and a 1 year high of $119.58. The stock’s 50-day simple moving average is $99.13 and its 200-day simple moving average is $101.91. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 1.43 and a beta of 0.52.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities analysts anticipate that RB Global will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. This is a positive change from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. RB Global’s dividend payout ratio is currently 56.65%.

Insider Activity at RB Global

In other RB Global news, Director Chloe Harford acquired 1,200 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the transaction, the director directly owned 1,200 shares in the company, valued at approximately $100,488. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of large investors have recently bought and sold shares of RBA. Addison Advisors LLC acquired a new stake in shares of RB Global during the 2nd quarter worth approximately $26,000. MV Capital Management Inc. bought a new stake in shares of RB Global in the 4th quarter worth approximately $29,000. J.Safra Asset Management Corp acquired a new position in RB Global during the 2nd quarter valued at approximately $32,000. Bayban bought a new position in RB Global during the 4th quarter worth $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in RB Global during the 1st quarter worth $43,000. Institutional investors own 95.37% of the company’s stock.

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.