RB Global (NYSE:RBA) Price Target Raised to $107.00

RB Global (NYSE:RBA) (TSE:RBA) had its price objective lifted by BMO Capital Markets from $105.00 to $107.00 in a research report sent to investors on Monday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

RBA has been the subject of several other reports. Raymond James increased their price target 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 target on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Robert W. Baird raised their price target on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Bank of America increased their price objective on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and a consensus target price of $98.36.

RB Global Trading Up 2.0 %

NYSE RBA opened at $93.70 on Monday. RB Global has a one year low of $58.85 and a one year high of $94.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 50.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92. The company’s 50-day simple moving average is $83.81 and its two-hundred day simple moving average is $79.91.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. RB Global’s payout ratio is 63.04%.

Insiders Place Their Bets

In other news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares of the company’s stock, valued at $1,595,638.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CRO James J. Jeter sold 3,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total transaction of $256,650.00. Following the completion of the transaction, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,733,841.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,915 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now owns 19,271 shares of the company’s stock, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,681 shares of company stock valued at $3,489,480 in the last three months. 4.32% of the stock is currently owned by insiders.

Institutional Trading of RB Global

A number of large investors have recently modified their holdings of the stock. Intech Investment Management LLC raised its stake in RB Global by 16.8% in the third quarter. Intech Investment Management LLC now owns 21,413 shares of the business services provider’s stock valued at $1,725,000 after buying an additional 3,081 shares in the last quarter. PCJ Investment Counsel Ltd. lifted its holdings in shares of RB Global by 32.0% during the third quarter. PCJ Investment Counsel Ltd. now owns 207,660 shares of the business services provider’s stock worth $16,714,000 after purchasing an additional 50,320 shares during the period. Commerce Bank boosted its holdings in RB Global by 10.6% in the 3rd quarter. Commerce Bank now owns 14,906 shares of the business services provider’s stock valued at $1,200,000 after purchasing an additional 1,426 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in RB Global by 3.6% during the third quarter. Mawer Investment Management Ltd. now owns 104,167 shares of the business services provider’s stock worth $8,384,000 after acquiring an additional 3,586 shares during the period. Finally, Swiss National Bank increased its holdings in shares of RB Global by 1.2% in the 3rd quarter. Swiss National Bank now owns 555,543 shares of the business services provider’s stock valued at $44,783,000 after purchasing an additional 6,400 shares in the last quarter. Hedge funds and other 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.