RB Global, Inc. (NYSE:RBA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $98.36.

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

RB Global Stock Performance

RBA stock opened at $97.81 on Friday. RB Global has a 1-year low of $60.84 and a 1-year high of $97.83. The business’s 50-day moving average price is $85.30 and its two-hundred day moving average price is $80.98. The firm has a market cap of $18.04 billion, a PE ratio of 53.16, a P/E/G ratio of 4.50 and a beta of 0.92. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52.

RB Global Dividend Announcement

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

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $84.19, for a total value of $1,505,569.77. Following the completion of the sale, the chief executive officer now owns 86,247 shares in the company, valued at $7,261,134.93. This trade represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RB Global

A number of institutional investors and hedge funds have recently modified their holdings of RBA. Bank of New York Mellon Corp boosted its position in RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after purchasing an additional 787,042 shares during the period. National Bank of Canada FI boosted its holdings in shares of RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after buying an additional 610,843 shares during the period. CIBC Asset Management Inc raised its holdings in RB Global by 1,879.0% in the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after acquiring an additional 594,941 shares during the period. Principal Financial Group Inc. lifted its position in RB Global by 3,387.9% during the second quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock worth $46,712,000 after acquiring an additional 594,199 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after acquiring an additional 445,004 shares during the period. 95.37% of the stock is owned by institutional investors.

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.