Robert W. Baird Issues Positive Forecast for RB Global (NYSE:RBA) Stock Price

RB Global (NYSE:RBA) (TSE:RBA) had its target price increased by Robert W. Baird from $105.00 to $110.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Several other analysts have also weighed in on RBA. Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets raised their price target on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Finally, CIBC cut their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Performance

Shares of RB Global stock opened at $102.61 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a market cap of $18.95 billion, a PE ratio of 51.05, a price-to-earnings-growth ratio of 4.36 and a beta of 0.96. The company has a 50 day moving average of $91.94 and a 200-day moving average of $88.46. RB Global has a 1-year low of $67.15 and a 1-year high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. As a group, equities research analysts forecast that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, February 14th. RB Global’s payout ratio is 57.71%.

Hedge Funds Weigh In On RB Global

Several large investors have recently modified their holdings of the business. CoreCap Advisors LLC increased its holdings in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global in the fourth quarter valued at about $27,000. Versant Capital Management Inc raised its position in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of 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 during the period. Finally, Proficio Capital Partners LLC bought a new stake in RB Global in the fourth quarter valued at approximately $36,000. Institutional investors 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.