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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has 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 issued a report on the stock in the last year is $126.4286.

Several equities analysts have commented on RBA shares. Stephens reissued an “equal weight” rating and set a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. BMO Capital Markets reissued an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research note on Tuesday, May 5th. Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th.

Insider Activity

In other RB Global news, Director Deborah Stein acquired 425 shares of the stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $103.15 per share, with a total value of $43,838.75. Following the purchase, the director directly owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently made changes to their positions in RBA. T. Rowe Price Investment Management Inc. grew its stake in shares of RB Global by 6,120,490.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock worth $251,851,000 after purchasing an additional 2,448,196 shares during the last quarter. Norges Bank acquired a new position in shares of RB Global in the 4th quarter worth approximately $231,813,000. Lazard Asset Management LLC acquired a new position in shares of RB Global in the 1st quarter worth approximately $210,091,000. EdgePoint Investment Group Inc. grew its stake in shares of RB Global by 14.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after purchasing an additional 1,111,217 shares during the last quarter. Finally, Kensico Capital Management Corp grew its stake in shares of RB Global by 152.0% in the 3rd quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock worth $113,128,000 after purchasing an additional 629,700 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 0.6%

RB Global stock opened at $105.36 on Wednesday. The stock has a market cap of $19.59 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 1.67 and a beta of 0.57. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $101.57 and its two-hundred day moving average price is $103.79. RB Global has a 52 week low of $93.58 and a 52 week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. RB Global’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. On average, analysts expect that RB Global will post 4.09 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global’s payout ratio is currently 57.67%.

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.