RB Global (NYSE:RBA) Given New $116.00 Price Target at Royal Bank of Canada

RB Global (NYSE:RBA) (TSE:RBA) had its target price lifted by Royal Bank of Canada from $107.00 to $116.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

A number of other analysts have also issued reports on RBA. CIBC dropped their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets boosted their price target on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Robert W. Baird boosted their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

RB Global Trading Up 8.2 %

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

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

RB Global Announces Dividend

The business also recently disclosed 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. This represents a $1.16 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s payout ratio is currently 63.04%.

Institutional Investors Weigh In On RB Global

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