Analysts Set RB Global, Inc. (NYSE:RBA) Price Target at $114.50

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA has received an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $114.50.

Several research firms have recently issued reports on RBA. Robert W. Baird upped their price target on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. BMO Capital Markets upped their target price on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Royal Bank of Canada boosted their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, CIBC raised their target price on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares of the company's stock, valued at $10,521,323.89. This trade represents a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 2,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the transaction, the executive now owns 14,167 shares in the company, valued at $1,515,302.32. This represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,472 shares of company stock worth $3,867,745 in the last ninety days. 4.32% of the stock is currently owned by insiders.

Institutional Trading of RB Global

A number of hedge funds have recently modified their holdings of RBA. SouthState Corp acquired a new position in shares of RB Global in the first quarter valued at $26,000. CoreCap Advisors LLC increased its holdings in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares during the period. SVB Wealth LLC acquired a new position in shares of RB Global in the 1st quarter valued at $28,000. MV Capital Management Inc. lifted its holdings in shares of RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after acquiring an additional 278 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of RB Global by 348.8% during the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after acquiring an additional 279 shares during the period. Institutional investors own 95.37% of the company's stock.

RB Global Stock Up 1.0%

NYSE RBA traded up $1.09 during trading on Wednesday, reaching $107.50. The company's stock had a trading volume of 711,601 shares, compared to its average volume of 1,118,854. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $19.91 billion, a PE ratio of 53.48, a PEG ratio of 4.95 and a beta of 0.78. RB Global has a 1-year low of $70.38 and a 1-year high of $111.11. The business has a 50-day moving average price of $101.48 and a 200-day moving average price of $97.34.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. RB Global's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. On average, research analysts forecast that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Thursday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global's dividend payout ratio (DPR) is currently 57.14%.

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.