Analysts Set RB Global, Inc. (NYSE:RBA) PT at $98.36

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $98.36.

RBA has been the subject of a number of research reports. Robert W. Baird boosted their target price on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their target price on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets boosted their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Bank of America boosted their target price on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Raymond James boosted their target price on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th.

RB Global Trading Up 0.1 %

NYSE:RBA opened at $97.76 on Friday. RB Global has a 12 month low of $60.84 and a 12 month high of $99.79. The firm has a fifty day simple moving average of $86.61 and a 200-day simple moving average of $81.85. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $18.03 billion, a P/E ratio of 53.13, a PEG ratio of 4.69 and a beta of 0.92.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. RB Global’s payout ratio is 63.04%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares of the company’s stock, valued at $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.32% of the stock is owned by corporate insiders.

Institutional Trading of RB Global

A number of institutional investors and hedge funds have recently modified their holdings of RBA. Bank of New York Mellon Corp increased its stake in shares of RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after purchasing an additional 787,042 shares in the last quarter. National Bank of Canada FI increased its stake in shares of RB Global by 309.6% during the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after purchasing an additional 610,843 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of RB Global by 1,879.0% during the second quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after purchasing an additional 594,941 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of RB Global by 3,387.9% during the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after purchasing an additional 594,199 shares in the last quarter. Finally, FMR LLC increased its stake in shares of RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after purchasing an additional 445,004 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.