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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $122.8750.

Several research firms have commented on RBA. National Bank Financial upgraded RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target for the company in a report on Monday, November 24th. National Bankshares decreased their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 9th. Royal Bank Of Canada boosted their target price on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Bank of America dropped their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th.

RB Global Trading Down 0.1%

Shares of RBA opened at $105.36 on Friday. RB Global has a fifty-two week low of $86.68 and a fifty-two week high of $119.58. The company has a market capitalization of $19.58 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56. The stock has a fifty day moving average of $100.51 and a two-hundred day moving average of $106.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.23.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th were issued a dividend of $0.31 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global’s payout ratio is presently 59.33%.

Insider Buying and Selling

In related news, Director Deborah Stein acquired 1,000 shares of RB Global stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at $101,260. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On RB Global

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its position in RB Global by 0.4% in the first quarter. American Century Companies Inc. now owns 48,264 shares of the business services provider’s stock valued at $4,844,000 after acquiring an additional 185 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its stake in shares of RB Global by 2.1% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 40,644 shares of the business services provider’s stock valued at $4,079,000 after purchasing an additional 835 shares during the period. Vident Advisory LLC grew its holdings in RB Global by 3.9% during the 1st quarter. Vident Advisory LLC now owns 3,726 shares of the business services provider’s stock valued at $374,000 after purchasing an additional 141 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its stake in RB Global by 3.8% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 615,368 shares of the business services provider’s stock worth $61,236,000 after buying an additional 22,372 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in RB Global by 28.7% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,000,000 shares of the business services provider’s stock worth $100,300,000 after buying an additional 223,000 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

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.