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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have given 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 $126.1250.

Several analysts recently commented on RBA shares. Royal Bank Of Canada increased their target price on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Barclays began coverage on shares of RB Global in a research note on Thursday, May 28th. They set an “overweight” rating and a $124.00 target price for the company. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Stephens restated an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a research report on Tuesday, May 5th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th.

Insider Activity at RB Global

In other news, Director Deborah Stein purchased 425 shares of RB Global stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the transaction, the director owned 1,825 shares in the company, valued at $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On RB Global

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in RB Global by 94.3% in the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock worth $1,031,000 after buying an additional 5,090 shares in the last quarter. NewEdge Advisors LLC lifted its position in RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after buying an additional 204 shares in the last quarter. Jones Financial Companies Lllp lifted its position in RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock worth $375,000 after buying an additional 3,346 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after buying an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in RB Global in the 1st quarter worth approximately $4,103,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Down 0.0%

RBA stock opened at $110.54 on Friday. RB Global has a 12 month low of $93.58 and a 12 month high of $119.58. The firm has a market cap of $20.55 billion, a PE ratio of 51.41, a P/E/G ratio of 1.76 and a beta of 0.57. The firm has a 50 day simple moving average of $104.94 and a 200 day simple moving average of $104.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07.

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. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that RB Global will post 4.09 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, May 27th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s dividend payout ratio is 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.