RB Global (NYSE:RBA) Stock Price Expected to Rise, Robert W. Baird Analyst Says

RB Global (NYSE:RBA) (TSE:RBA) had its target price lifted by Robert W. Baird from $86.00 to $100.00 in a research report sent to investors on Monday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

A number of other research analysts have also weighed in on the stock. Raymond James raised their price target 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. Royal Bank of Canada raised their target price on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. 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. Finally, BMO Capital Markets started coverage on RB Global in a report on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.36.

RB Global Price Performance

Shares of NYSE RBA opened at $92.36 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market cap of $17.03 billion, a PE ratio of 50.20, a PEG ratio of 4.55 and a beta of 0.92. RB Global has a one year low of $59.11 and a one year high of $94.85. The firm has a fifty day moving average of $84.30 and a 200 day moving average of $80.21.

RB Global Dividend Announcement

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 1.26%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insider Activity at RB Global

In other RB Global news, CRO James J. Jeter sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the sale, the executive now owns 20,267 shares of the company’s stock, valued at $1,733,841.85. The trade was a 12.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. This represents a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,681 shares of company stock worth $3,489,480. Insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Weil Company Inc. increased its stake in RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after purchasing an additional 132 shares during the period. Advisor OS LLC lifted its holdings in RB Global by 1.9% during the 2nd quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after buying an additional 156 shares in the last quarter. Blue Trust Inc. boosted its position in RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock valued at $113,000 after buying an additional 157 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after acquiring an additional 165 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased 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 acquiring an additional 210 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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.