RB Global, Inc. (NYSE:RBA) Receives Average Recommendation of “Moderate Buy” from Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $124.3333.

Several brokerages have recently commented on RBA. Royal Bank Of Canada raised their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. CIBC increased their target price on RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a report on Friday, July 18th. BMO Capital Markets raised their price target on RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Raymond James Financial upped their price objective on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th.

RB Global Stock Down 1.5%

RBA opened at $109.02 on Friday. The stock has a fifty day moving average of $113.64 and a 200-day moving average of $106.24. The company has a market capitalization of $20.23 billion, a P/E ratio of 53.97, a P/E/G ratio of 2.57 and a beta of 0.65. RB Global has a fifty-two week low of $78.08 and a fifty-two week high of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.94 earnings per share. RB Global’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that RB Global will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were given a dividend of $0.31 per share. The ex-dividend date was Thursday, August 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. This is a positive change from RB Global’s previous quarterly dividend of $0.29. RB Global’s dividend payout ratio (DPR) is 61.39%.

Insider Activity at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 7,400 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the sale, the insider owned 24,874 shares of the company’s stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The disclosure for this sale can be found here. Insiders have sold 55,209 shares of company stock valued at $6,090,521 over the last three months. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of RB Global in the second quarter worth about $255,798,000. Samlyn Capital LLC acquired a new position in RB Global during the 1st quarter worth approximately $118,821,000. Third Point LLC acquired a new position in RB Global during the 1st quarter worth approximately $95,285,000. Fiera Capital Corp lifted its stake in RB Global by 17.3% in the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock valued at $379,150,000 after purchasing an additional 557,407 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of RB Global during the 1st quarter valued at $54,584,000. 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.