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

RB Global (NYSE:RBA) (TSE:RBA) had its price target raised by Royal Bank of Canada from $99.00 to $107.00 in a report released on Monday,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other brokerages have also issued reports on RBA. 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. Bank of America upped their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Raymond James lifted their target price on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.36.

RB Global Trading Down 1.9 %

Shares of NYSE:RBA opened at $91.15 on Monday. The stock’s 50-day simple moving average is $84.13 and its two-hundred day simple moving average is $80.13. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 4.55 and a beta of 0.92. RB Global has a 52-week low of $59.11 and a 52-week high of $94.85. 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 Dividend Announcement

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

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the transaction, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of RB Global stock in a transaction 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 approximately $1,733,841.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,681 shares of company stock valued at $3,489,480. 4.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On RB Global

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after acquiring an additional 1,153,497 shares during the last quarter. Bank of New York Mellon Corp lifted its position in 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 valued at $102,154,000 after purchasing an additional 787,042 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of RB Global by 1,879.0% in the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock worth $47,761,000 after buying an additional 594,941 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of RB Global by 3,387.9% in the 2nd quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after buying an additional 594,199 shares during the last quarter. Finally, FMR LLC raised its position in shares of RB Global by 60.5% during the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock valued at $95,057,000 after buying 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.