Analysts Set RB Global, Inc. (NYSE:RBA) PT at $124.33

Key Points

• RB Global, Inc. has received a consensus rating of "Moderate Buy" from six analysts, with a 12-month price target averaging $124.33.
• Insider transactions include CEO James Francis Kessler selling 45,658 shares at an average price of $110, reflecting a significant decrease in his ownership.
• The company recently declared an increased quarterly dividend of $0.31 per share, raising its annualized dividend to $1.24, which corresponds to a yield of 1.1%.

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have been given an average recommendation of "Moderate Buy" by the six ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $124.3333.

Several research firms have issued reports on RBA. National Bankshares raised their price target on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a report on Friday, September 5th. CIBC increased their price target on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Finally, Raymond James Financial boosted their price objective on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th.

RB Global Trading Down 3.3%

NYSE RBA traded down $3.94 on Friday, reaching $114.97. The company had a trading volume of 1,797,710 shares, compared to its average volume of 1,014,086. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of 56.91, a P/E/G ratio of 2.76 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global has a fifty-two week low of $78.08 and a fifty-two week high of $119.58. The business has a 50 day moving average of $113.54 and a two-hundred day moving average of $106.09.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The business's revenue was up 8.2% on a year-over-year basis. Analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 28th. This is a positive change from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's payout ratio is currently 61.39%.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $814,000.00. Following the transaction, the insider directly owned 24,874 shares of the company's stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,209 shares of company stock worth $6,090,521. Insiders own 0.28% of the company's stock.

Institutional Investors Weigh In On RB Global

Large investors have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. lifted its stake in RB Global by 190.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 20,058 shares of the business services provider's stock valued at $1,809,000 after purchasing an additional 13,158 shares during the last quarter. Focus Partners Wealth bought a new position in shares of RB Global during the 4th quarter worth $253,000. ProShare Advisors LLC increased its holdings in RB Global by 7.4% in the 4th quarter. ProShare Advisors LLC now owns 8,628 shares of the business services provider's stock worth $778,000 after acquiring an additional 595 shares during the last quarter. State of Wyoming bought a new stake in RB Global in the 4th quarter valued at about $133,000. Finally, Vident Advisory LLC lifted its holdings in RB Global by 24.0% during the fourth quarter. Vident Advisory LLC now owns 3,585 shares of the business services provider's stock valued at $323,000 after purchasing an additional 693 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

RB Global Company Profile

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.