RB Global (NYSE:RBA) Price Target Raised to $120.00

RB Global (NYSE:RBA) (TSE:RBA) had its price target boosted by BMO Capital Markets from $116.00 to $120.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada raised their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday. CIBC reduced their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird raised their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday. Raymond James raised their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Stock Performance

RB Global stock opened at $102.61 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. RB Global has a 1-year low of $67.15 and a 1-year high of $106.90. The firm has a market capitalization of $18.95 billion, a P/E ratio of 51.05, a price-to-earnings-growth ratio of 4.36 and a beta of 0.96. The company’s 50-day moving average is $91.94 and its 200 day moving average is $88.46.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company earned $0.82 earnings per share. Research analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. RB Global’s payout ratio is currently 57.71%.

Institutional Investors Weigh In On RB Global

Several institutional investors and hedge funds have recently made changes to their positions in RBA. Creative Planning lifted its stake in shares of RB Global by 27.6% during the third quarter. Creative Planning now owns 19,811 shares of the business services provider’s stock worth $1,595,000 after buying an additional 4,285 shares during the period. Blue Trust Inc. raised 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 purchasing an additional 157 shares during the last quarter. Signaturefd LLC raised its holdings in shares of RB Global by 21.3% during the third quarter. Signaturefd LLC now owns 3,699 shares of the business services provider’s stock worth $298,000 after purchasing an additional 649 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of RB Global during the third quarter worth $1,057,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of RB Global by 8.3% during the third quarter. Assenagon Asset Management S.A. now owns 10,141 shares of the business services provider’s stock worth $817,000 after purchasing an additional 781 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.