By otakuyassine3@gmail.com 
RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA)’s share price hit a new 52-week high during mid-day trading on Wednesday after BMO Capital Markets raised their price target on the stock from $116.00 to $120.00. BMO Capital Markets currently has an outperform rating on the stock. RB Global traded as high as $106.90 and last traded at $104.03, with a volume of 352680 shares trading hands. The stock had previously closed at $96.56.
A number of other brokerages have also issued reports on RBA. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. CIBC cut their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Raymond James lifted their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird increased their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted their target price on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.64.
Check Out Our Latest Research Report on RB Global
Hedge Funds Weigh In On RB Global
A number of institutional investors and hedge funds have recently made changes to their positions in RBA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of RB Global by 0.3% during the 4th 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 acquiring an additional 113 shares in the last quarter. CoreCap Advisors LLC raised its holdings in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after buying an additional 129 shares during the last quarter. Weil Company Inc. grew its position in shares of RB Global by 1.2% in the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock valued at $912,000 after buying an additional 132 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in RB Global by 4.6% during the 4th 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. 95.37% of the stock is owned by institutional investors and hedge funds.
RB Global Price Performance
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 capitalization of $19.14 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 4.02 and a beta of 0.96. The company’s 50 day moving average is $91.78 and its 200 day moving average is $88.25.
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.03%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. Research analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal 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 paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is 57.71%.
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.
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