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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been given an average recommendation of “Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $127.1250.

A number of brokerages have recently issued reports on RBA. Wall Street Zen upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Barclays assumed 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. Royal Bank Of Canada upped their price target on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. BMO Capital Markets reissued an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Stephens reissued an “equal weight” rating and issued a $96.00 price objective on shares of RB Global in a research note on Tuesday, May 5th.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $103.15 per share, with a total value of $43,838.75. Following the completion of the purchase, the director owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.57% of the company’s stock.

Institutional Trading of RB Global

Large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of RB Global by 1.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock valued at $1,120,479,000 after acquiring an additional 165,260 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in RB Global by 13.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 442,528 shares of the business services provider’s stock worth $45,709,000 after acquiring an additional 50,830 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in RB Global by 20.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 173,358 shares of the business services provider’s stock worth $17,833,000 after purchasing an additional 29,530 shares during the period. Wilson Asset Management International PTY Ltd. grew its holdings in RB Global by 8.5% in the fourth quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider’s stock worth $14,329,000 after purchasing an additional 10,951 shares during the period. Finally, Tectonic Advisors LLC increased its stake in RB Global by 78.3% in the fourth quarter. Tectonic Advisors LLC now owns 59,867 shares of the business services provider’s stock valued at $6,159,000 after purchasing an additional 26,286 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

RB Global stock opened at $111.44 on Thursday. The stock’s 50 day moving average is $107.68 and its 200 day moving average is $106.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. The firm has a market cap of $20.72 billion, a P/E ratio of 51.83, a P/E/G ratio of 1.71 and a beta of 0.55. RB Global has a one year low of $93.58 and a one year 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The business had revenue of $888.01 million during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, research analysts expect that RB Global will post 4.16 EPS for the current year.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, May 27th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global’s dividend payout ratio (DPR) is currently 57.67%.

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.