RB Global (NYSE:RBA) Price Target Raised to $107.00 at Royal Bank of Canada

RB Global (NYSE:RBA) (TSE:RBA) had its price objective raised by Royal Bank of Canada from $99.00 to $107.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Several other equities research analysts have also weighed in on the company. Robert W. Baird raised their price objective on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James raised their target price 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. Bank of America boosted 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. Finally, BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.36.

RB Global Price Performance

Shares of RB Global stock opened at $92.36 on Monday. RB Global has a 52 week low of $59.11 and a 52 week high of $94.85. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a market cap of $17.03 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 4.47 and a beta of 0.92. The company’s 50-day moving average price is $84.30 and its two-hundred day moving average price is $80.21.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Insider Buying and Selling

In other news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was 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 owns 86,247 shares in the company, valued at approximately $7,166,263.23. This represents a 17.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. This represents a 13.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,681 shares of company stock worth $3,489,480. Corporate insiders own 4.32% of the company’s stock.

Institutional Trading of RB Global

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