Brokerages Set RB Global, Inc. (NYSE:RBA) Price Target at $100.36

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $100.36.

RBA has been the subject of several recent research reports. Robert W. Baird boosted their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. CIBC raised their price objective on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research note on Thursday, December 12th. BMO Capital Markets increased their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Finally, 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.

RB Global Trading Down 0.1 %

NYSE:RBA opened at $89.33 on Friday. The firm has a 50-day simple moving average of $93.20 and a 200-day simple moving average of $85.65. RB Global has a one year low of $60.84 and a one year high of $99.79. The firm has a market cap of $16.50 billion, a P/E ratio of 48.55, a P/E/G ratio of 4.56 and a beta of 0.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, November 27th. RB Global’s payout ratio is 63.04%.

Institutional Investors Weigh In On RB Global

Hedge funds have recently modified their holdings of the business. Arlington Partners LLC grew its stake in RB Global by 22.3% during the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after acquiring an additional 8,961 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in RB Global during the fourth quarter worth approximately $27,000. CIBC Asset Management Inc boosted its stake in RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after buying an additional 357,761 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of RB Global by 53.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after purchasing an additional 20,795 shares during the period. Finally, Diversified Trust Co increased its position in RB Global by 48.9% during the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after purchasing an additional 20,724 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Company Profile

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.