Brokerages Set RB Global, Inc. (NYSE:RBA) Price Target at $116.21

Key Points

• RB Global, Inc. has received a consensus rating of "Moderate Buy" from seven brokerages, with two hold ratings and five buy ratings, alongside an average 12-month price target of $116.21.
• The company reported quarterly earnings of $0.89 per share, matching analysts' estimates, with revenue rising by 4.1% year-over-year to $1.06 billion.
• RB Global announced a quarterly dividend of $0.29, resulting in an annualized dividend yield of 1.07% and a payout ratio of 57.14%.

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $116.21.

RBA has been the subject of a number of recent research reports. National Bankshares dropped their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Royal Bank Of Canada set a $125.00 price objective on shares of RB Global and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Raymond James Financial lifted their price objective on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th.

Insider Activity

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares of the company's stock, valued at $11,832,590. The trade was a 29.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $213,920.00. Following the completion of the sale, the executive directly owned 14,167 shares of the company's stock, valued at approximately $1,515,302.32. This trade represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,133 shares of company stock valued at $7,843,729. Insiders own 4.32% of the company's stock.

Institutional Investors Weigh In On RB Global

Several large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its position in RB Global by 3.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock valued at $1,027,191,000 after buying an additional 352,530 shares during the period. Geode Capital Management LLC increased its position in RB Global by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock valued at $357,434,000 after purchasing an additional 264,778 shares during the period. Fiera Capital Corp raised its holdings in shares of RB Global by 17.3% in the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after purchasing an additional 557,407 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of RB Global by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock worth $307,033,000 after purchasing an additional 19,895 shares during the period. Finally, FMR LLC boosted its stake in shares of RB Global by 137.5% during the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after purchasing an additional 1,623,429 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

NYSE RBA traded up $0.04 during trading on Thursday, hitting $108.30. 636,140 shares of the stock traded hands, compared to its average volume of 1,074,574. The company has a market capitalization of $20.09 billion, a P/E ratio of 53.35, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77. The firm has a 50-day simple moving average of $106.56 and a 200-day simple moving average of $100.74. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. RB Global has a 12-month low of $70.38 and a 12-month high of $111.71.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the company posted $0.90 EPS. The business's revenue was up 4.1% on a year-over-year basis. As a group, analysts predict that RB Global will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is 57.14%.

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.