Brokerages Set RB Global, Inc. (NYSE:RBA) Price Target at $98.36

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $98.36.

Several equities research analysts have recently commented on the company. Bank of America lifted their target price on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research note on Monday, August 26th. Robert W. Baird lifted their price objective on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets boosted their price objective on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Raymond James raised their target price 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. Finally, Royal Bank of Canada boosted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the completion of the transaction, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of RB Global

Several institutional investors and hedge funds have recently bought and sold shares of RBA. Weil Company Inc. boosted its stake in shares of RB Global by 1.2% during the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after acquiring an additional 132 shares during the period. Advisor OS LLC increased its position 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 during the period. Blue Trust Inc. lifted its holdings in shares of RB Global by 11.9% during the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after buying an additional 157 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position 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 valued at $34,000 after acquiring an additional 165 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

RBA opened at $98.49 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The stock has a market capitalization of $18.16 billion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 4.70 and a beta of 0.92. The company’s 50 day simple moving average is $85.55 and its 200-day simple moving average is $81.29. RB Global has a one year low of $60.84 and a one year high of $99.79.

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 issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a yield of 1.18%. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

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.