RB Global (NYSE:RBA) Price Target Raised to $118.00 at Raymond James

RB Global (NYSE:RBA) (TSE:RBA) had its price target increased by Raymond James from $110.00 to $118.00 in a research report sent to investors on Wednesday,Benzinga reports. Raymond James currently has an outperform rating on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. CIBC reduced their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird increased their price objective on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada upped their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, BMO Capital Markets increased their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Performance

NYSE:RBA opened at $104.43 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global has a 1 year low of $65.99 and a 1 year high of $106.90. The stock’s 50 day simple moving average is $91.62 and its two-hundred day simple moving average is $88.14. The company has a market cap of $19.29 billion, a price-to-earnings ratio of 56.76, a PEG ratio of 4.01 and a beta of 0.96.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.06% and a return on equity of 7.41%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $0.82 EPS. As a group, equities analysts anticipate that RB Global will post 1.96 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.29 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Institutional Trading of RB Global

A number of institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in RB Global by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock worth $3,674,000 after buying an additional 113 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after buying an additional 117 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after buying an additional 129 shares during the last quarter. Weil Company Inc. lifted its holdings in RB Global by 1.2% during the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after buying an additional 132 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its position in shares of RB Global by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after purchasing an additional 137 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.