Brokerages Set RB Global, Inc. (NYSE:RBA) Price Target at $115.79

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have been assigned an average rating of "Moderate Buy" from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $115.79.

RBA has been the topic of several analyst reports. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Saturday. Raymond James Financial raised their price target on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. National Bank Financial cut RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. CIBC raised their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. Finally, Robert W. Baird raised their price target on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, May 8th.

Insider Transactions at RB Global

In other news, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the sale, the director directly owned 5,865 shares of the company's stock, valued at approximately $622,687.05. The trade was a 12.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 3,700 shares of RB Global stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $392,829.00. Following the completion of the sale, the insider directly owned 24,874 shares in the company, valued at $2,640,872.58. This trade represents a 12.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,075 shares of company stock valued at $2,007,349. 4.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On RB Global

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock worth $2,248,060,000 after acquiring an additional 358,752 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in RB Global by 3.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock worth $1,027,191,000 after acquiring an additional 352,530 shares during the last quarter. Geode Capital Management LLC increased its stake in RB Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock worth $357,434,000 after acquiring an additional 264,778 shares during the last quarter. Fiera Capital Corp increased its stake in RB Global by 17.3% during the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock worth $379,150,000 after acquiring an additional 557,407 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in RB Global by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock worth $307,033,000 after acquiring an additional 19,895 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Stock Performance

NYSE RBA traded up $1.06 on Friday, hitting $105.76. 592,440 shares of the company traded hands, compared to its average volume of 956,469. The company has a market capitalization of $19.59 billion, a price-to-earnings ratio of 52.10, a P/E/G ratio of 3.73 and a beta of 0.77. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The business's 50 day moving average price is $105.46 and its 200-day moving average price is $98.74. RB Global has a 52-week low of $70.38 and a 52-week high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. RB Global's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. Equities analysts expect that RB Global will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a $0.29 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.10%. RB Global's dividend payout ratio (DPR) is 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.