Brokerages Set RB Global, Inc. (NYSE:RBA) Target Price at $98.36

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $98.36.

Several analysts recently weighed in on RBA shares. Raymond James lifted their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price objective on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird raised their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets raised their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th.

RB Global Stock Performance

RBA stock opened at $97.68 on Friday. RB Global has a 1 year low of $60.84 and a 1 year high of $99.79. The stock has a market capitalization of $18.01 billion, a price-to-earnings ratio of 53.09, a PEG ratio of 4.73 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The stock’s fifty day moving average is $86.09 and its two-hundred day moving average is $81.62.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. RB Global’s dividend payout ratio (DPR) is 63.04%.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $83.09, for a total transaction of $1,485,898.47. Following the completion of the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at $7,166,263.23. This represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its holdings in shares of RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after acquiring an additional 165 shares during the last quarter. UMB Bank n.a. increased its stake in RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after purchasing an additional 388 shares in the last quarter. Quarry LP acquired a new stake in RB Global during the 2nd quarter worth about $53,000. Nisa Investment Advisors LLC lifted its stake in RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after buying an additional 210 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of RB Global by 533.1% in the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after buying an additional 677 shares during the period. Institutional investors own 95.37% of the company’s stock.

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.