National Bankshares Cuts RB Global (NYSE:RBA) Price Target to $115.00

RB Global (NYSE:RBA) (TSE:RBA) had its price target decreased by National Bankshares from $118.00 to $115.00 in a research report report published on Wednesday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the business services provider’s stock.

Several other brokerages have also recently weighed in on RBA. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. BMO Capital Markets increased their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. CIBC cut their price objective 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. Finally, Raymond James increased their target price on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.56.

RB Global Stock Up 2.4 %

Shares of NYSE:RBA opened at $97.04 on Wednesday. The firm has a market cap of $17.93 billion, a P/E ratio of 48.28, a PEG ratio of 4.95 and a beta of 0.90. RB Global has a 52-week low of $69.83 and a 52-week high of $106.90. The business’s 50 day simple moving average is $97.69 and its two-hundred day simple moving average is $92.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. 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 business posted $0.82 EPS. As a group, research analysts forecast that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. RB Global’s dividend payout ratio (DPR) is presently 57.71%.

Insiders Place Their Bets

In related news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 600 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the sale, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,897 shares of company stock valued at $2,338,161. Company insiders own 4.32% of the company’s stock.

Institutional Trading of RB Global

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after acquiring an additional 358,752 shares during the period. Vontobel Holding Ltd. raised its stake in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after purchasing an additional 753,700 shares during the period. Geode Capital Management LLC raised its stake in shares of RB Global by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after purchasing an additional 264,778 shares during the period. Janus Henderson Group PLC lifted its holdings in RB Global by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock worth $307,033,000 after purchasing an additional 19,895 shares in the last quarter. Finally, Boston Partners grew its holdings in RB Global by 6.9% during the 4th quarter. Boston Partners now owns 3,308,977 shares of the business services provider’s stock valued at $298,500,000 after buying an additional 214,181 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

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.