RB Global (NYSE:RBA) Price Target Raised to $107.00

by · The Cerbat Gem

RB Global (NYSE:RBA – Free Report) (TSE:RBA) had its price objective upped by BMO Capital Markets from $105.00 to $107.00 in a research report report published on Monday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

RBA has been the subject of several other reports. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird upped their target price on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada raised their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Raymond James upped their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.36.

View Our Latest Stock Analysis on RBA

RB Global Trading Down 1.9 %

RBA stock opened at $91.15 on Monday. The business’s 50-day moving average is $84.13 and its 200 day moving average is $80.13. RB Global has a 12-month low of $59.11 and a 12-month high of $94.85. The stock has a market cap of $16.81 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 4.55 and a beta of 0.92. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insider Buying and Selling at RB Global

In other news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at $1,733,841.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CRO James J. Jeter sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the sale, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the transaction, the chief executive officer now directly owns 86,247 shares in the company, valued at $7,166,263.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,681 shares of company stock worth $3,489,480 in the last ninety days. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its holdings in shares of RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after buying an additional 165 shares during the period. UMB Bank n.a. grew its position in RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 388 shares in the last quarter. Quarry LP purchased a new stake in RB Global during the second quarter worth about $53,000. Nisa Investment Advisors LLC lifted its position in shares of RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of RB Global by 533.1% in the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 677 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

About RB Global

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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.

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