RB Global (NYSE:RBA) Given New $121.00 Price Target at Barclays

RB Global (NYSE:RBA) (TSE:RBA) had its target price trimmed by Barclays from $124.00 to $121.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research note on Tuesday, May 26th. Zacks Research upgraded RB Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. National Bank Financial boosted their target price on shares of RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. BMO Capital Markets reissued an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their price target on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $127.57.

RB Global Stock Performance

Shares of RBA stock opened at $110.56 on Wednesday. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 1.73 and a beta of 0.55. RB Global has a 52-week low of $93.58 and a 52-week high of $119.58. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $108.48 and its 200 day moving average is $106.27.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company had revenue of $888.01 million during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. RB Global’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that RB Global will post 4.16 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s dividend payout ratio is currently 57.67%.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein acquired 425 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of $103.15 per share, with a total value of $43,838.75. Following the transaction, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On RB Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MV Capital Management Inc. purchased a new stake in shares of RB Global during the fourth quarter worth about $29,000. Bayban acquired a new position in shares of RB Global during the fourth quarter valued at about $34,000. State of Wyoming purchased a new position in shares of RB Global in the 2nd quarter valued at approximately $46,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of RB Global in the 1st quarter valued at approximately $43,000. Finally, Nemes Rush Group LLC acquired a new stake in RB Global in the 4th quarter worth approximately $54,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Company Profile

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.