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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $122.8750.

RBA has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Bank of America decreased their price target on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. National Bank Financial raised RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a research note on Monday, November 24th. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, BMO Capital Markets upped their price target on shares of RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 7th.

Insider Activity

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Deborah Stein purchased 1,000 shares of the stock in a transaction on Thursday, November 13th. The shares were acquired at an average cost of $101.26 per share, with a total value of $101,260.00. Following the transaction, the director directly owned 1,000 shares in the company, valued at $101,260. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 4.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cidel Asset Management Inc. boosted its stake in shares of RB Global by 1.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock valued at $73,115,000 after purchasing an additional 11,881 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in RB Global in the second quarter worth about $19,717,000. Voya Investment Management LLC lifted its holdings in RB Global by 12.8% in the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock worth $3,389,000 after buying an additional 3,847 shares during the period. Kathmere Capital Management LLC purchased a new stake in RB Global in the second quarter worth about $476,000. Finally, Wilson Asset Management International PTY Ltd. boosted its position in RB Global by 9.5% during the 2nd quarter. Wilson Asset Management International PTY Ltd. now owns 159,402 shares of the business services provider’s stock valued at $16,927,000 after acquiring an additional 13,814 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Down 0.4%

Shares of NYSE RBA opened at $97.80 on Wednesday. The stock has a market capitalization of $18.16 billion, a P/E ratio of 48.41, a PEG ratio of 2.48 and a beta of 0.56. RB Global has a one year low of $86.68 and a one year high of $119.58. The firm’s 50 day simple moving average is $101.62 and its two-hundred day simple moving average is $107.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.83 by $0.10. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm earned $0.71 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 26th. RB Global’s dividend payout ratio is 59.33%.

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.