Analysts Set RB Global, Inc. (NYSE:RBA) PT at $100.36

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $100.36.

Several research analysts have weighed in on RBA shares. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. CIBC raised their price target on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research note on Thursday, December 12th. BMO Capital Markets upped their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their target price on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Robert W. Baird upped their price target on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th.

Institutional Investors Weigh In On RB Global

Several large investors have recently made changes to their positions in RBA. Wealth Enhancement Advisory Services LLC increased its holdings in RB Global by 18.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,858 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 591 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in RB Global by 11.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 9,360 shares of the business services provider’s stock worth $714,000 after acquiring an additional 970 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in RB Global by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after acquiring an additional 210 shares during the period. Fifth Third Bancorp grew its position in RB Global by 35.9% in the second quarter. Fifth Third Bancorp now owns 3,013 shares of the business services provider’s stock valued at $230,000 after acquiring an additional 796 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of RB Global during the second quarter valued at approximately $416,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Performance

NYSE:RBA opened at $90.51 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. The firm has a market cap of $16.69 billion, a PE ratio of 49.19, a P/E/G ratio of 4.56 and a beta of 0.95. The firm has a 50 day simple moving average of $91.13 and a 200-day simple moving average of $84.27. RB Global has a 1-year low of $60.84 and a 1-year high of $99.79.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.28%. RB Global’s dividend payout ratio (DPR) is 63.04%.

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.