BMO Capital Markets Increases RB Global (NYSE:RBA) Price Target to $107.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price boosted by BMO Capital Markets from $105.00 to $107.00 in a research note issued to investors on Monday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

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

RB Global Stock Performance

RB Global stock opened at $92.36 on Monday. The business has a 50 day moving average of $84.30 and a 200-day moving average of $80.21. The company has a market capitalization of $17.03 billion, a P/E ratio of 50.20, a P/E/G ratio of 4.47 and a beta of 0.92. RB Global has a 1 year low of $59.11 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17.

RB Global Announces Dividend

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 1.26%. The ex-dividend date is Wednesday, November 27th. RB Global’s dividend payout ratio is 63.04%.

Insider Buying and Selling

In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of RB Global 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 transaction, the insider now directly owns 19,271 shares of the company’s stock, valued at $1,595,638.80. The trade was a 13.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Francis Kessler sold 17,883 shares of the company’s 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 sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,261,134.93. The trade was a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,681 shares of company stock valued at $3,489,480 over the last 90 days. Company insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Weil Company Inc. increased 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 purchasing an additional 132 shares during the last quarter. Advisor OS LLC increased its holdings in shares of RB Global by 1.9% in the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock worth $638,000 after purchasing an additional 156 shares during the period. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 157 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in 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 purchasing an additional 165 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after buying an additional 210 shares during the last quarter. 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.