RB Global, Inc. (NYSE:RBA) Stock Has Average Target Price of $127.57

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $127.57.

A number of brokerages have issued reports on RBA. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Zacks Research lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Wall Street Zen cut shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $152.00 target price on shares of RB Global in a research note on Wednesday, September 23rd. Finally, Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price on the stock in a report on Tuesday, June 30th.

RB Global Price Performance

RBA stock opened at $81.97 on Tuesday. RB Global has a 1 year low of $78.05 and a 1 year high of $119.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The firm has a market capitalization of $14.86 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.53. The business has a 50 day simple moving average of $88.85 and a 200-day simple moving average of $99.54.

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

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Tuesday, August 25th were issued a $0.33 dividend. This is an increase from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.6%. RB Global’s payout ratio is presently 56.65%.

Insider Buying and Selling

In other news, Director Chloe Harford bought 1,200 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the acquisition, the director directly owned 1,200 shares of the company’s stock, valued at $100,488. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Deborah Stein bought 500 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was purchased at an average cost of $80.91 per share, with a total value of $40,455.00. Following the completion of the transaction, the director owned 2,325 shares in the company, valued at $188,115.75. This represents a 27.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Addison Advisors LLC purchased a new stake in RB Global during the 2nd quarter worth approximately $26,000. MV Capital Management Inc. purchased a new position in RB Global in the 4th quarter valued at approximately $29,000. J.Safra Asset Management Corp purchased a new position in RB Global in the 2nd quarter valued at approximately $32,000. Bayban acquired a new position in shares of RB Global in the fourth quarter worth $34,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of RB Global in the second quarter worth $35,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Company Profile

RB Global, Inc (NYSE: RBA) is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.