RB Global (NYSE:RBA) Stock Price Expected to Rise, Robert W. Baird Analyst Says

RB Global (NYSE:RBA) (TSE:RBA) had its target price upped by Robert W. Baird from $86.00 to $100.00 in a report released on Monday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

RBA has been the topic of several other reports. Bank of America upped their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada increased their price target on shares of RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Raymond James upped their price objective on shares of RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets assumed coverage on shares of RB Global in a research note on Thursday, September 5th. They issued an “outperform” rating and a $105.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.36.

RB Global Price Performance

Shares of NYSE:RBA opened at $93.70 on Monday. The company’s fifty day moving average is $83.81 and its two-hundred day moving average is $79.91. The company has a market cap of $17.28 billion, a P/E ratio of 50.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.92. RB Global has a 12-month low of $58.85 and a 12-month high of $94.85. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55.

RB Global Dividend Announcement

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

Insider Buying and Selling

In other news, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.80, for a total transaction of $241,362.00. Following the completion of the sale, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Darren Jeffrey Watt sold 2,915 shares of the business’s stock in a transaction 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 directly owns 19,271 shares in the company, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the sale, the chief executive officer now directly owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,681 shares of company stock worth $3,489,480. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in RB Global by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after purchasing an additional 1,153,497 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in shares of RB Global by 1.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock valued at $652,590,000 after buying an additional 114,225 shares during the last quarter. Cooke & Bieler LP lifted its stake in shares of RB Global by 3.4% in the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock valued at $252,865,000 after buying an additional 109,056 shares during the period. Fiera Capital Corp grew its position in RB Global by 5.7% during the second quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock worth $239,881,000 after buying an additional 168,945 shares in the last quarter. Finally, Boston Partners grew its position in RB Global by 4.1% during the first quarter. Boston Partners now owns 3,029,758 shares of the business services provider’s stock worth $230,543,000 after buying an additional 120,469 shares in the last quarter. 95.37% of the stock is currently 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.