RB Global (NYSE:RBA) Price Target Increased to $98.00 by Analysts at Raymond James

RB Global (NYSE:RBA) (TSE:RBA) had its target price hoisted by Raymond James from $95.00 to $98.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

A number of other research analysts have also issued reports on RBA. Scotiabank increased their target price on shares of RB Global from $88.00 to $89.00 and gave the stock a sector outperform rating in a research report on Wednesday, April 24th. CIBC assumed coverage on shares of RB Global in a research report on Tuesday, June 18th. They set a sector outperform rating and a $95.00 target price on the stock. Bank of America increased their price target on shares of RB Global from $68.00 to $79.00 and gave the stock a neutral rating in a research report on Tuesday, May 28th. Robert W. Baird increased their price target on shares of RB Global from $80.00 to $86.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an outperform rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $88.43.

RB Global Stock Performance

Shares of NYSE:RBA traded up $0.65 on Thursday, reaching $78.94. 802,125 shares of the company’s stock were exchanged, compared to its average volume of 1,137,249. The company has a fifty day moving average of $77.85 and a 200-day moving average of $74.45. RB Global has a twelve month low of $55.67 and a twelve month high of $81.87. The company has a market capitalization of $14.43 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 5.11 and a beta of 0.91. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.58.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. RB Global had a net margin of 8.08% and a return on equity of 6.87%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue was down .9% compared to the same quarter last year. On average, research analysts predict that RB Global will post 2.04 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be given a $0.29 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 1.47%. This is a positive change from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is currently 65.06%.

Insider Buying and Selling at RB Global

In other RB Global news, insider Baron Concors sold 13,230 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.05, for a total value of $992,911.50. Following the sale, the insider now owns 15,487 shares in the company, valued at $1,162,299.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Darren Jeffrey Watt sold 3,637 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total transaction of $293,360.42. Following the completion of the transaction, the insider now owns 17,279 shares of the company’s stock, valued at $1,393,724.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Baron Concors sold 13,230 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $75.05, for a total transaction of $992,911.50. Following the transaction, the insider now directly owns 15,487 shares of the company’s stock, valued at approximately $1,162,299.35. The disclosure for this sale can be found here. Insiders have sold 43,867 shares of company stock worth $3,370,272 over the last quarter. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

Large investors have recently modified their holdings of the business. YHB Investment Advisors Inc. bought a new position in shares of RB Global during the first quarter valued at $27,000. Oakworth Capital Inc. raised its stake in RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after buying an additional 162 shares during the last quarter. Hollencrest Capital Management bought a new position in RB Global during the first quarter worth $33,000. Massmutual Trust Co. FSB ADV raised its stake in RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after buying an additional 165 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in RB Global during the fourth quarter worth $54,000. 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.