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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $92.19.

Several research firms have recently weighed in on RBA. BMO Capital Markets began coverage on RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target on the stock. Royal Bank of Canada upped their price target on shares of RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. CIBC initiated coverage on shares of RB Global in a report on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target on the stock. Robert W. Baird increased their price objective on RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America lifted their target price on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th.

RB Global Trading Up 1.2 %

Shares of NYSE:RBA opened at $81.35 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $82.17 and a 200-day moving average of $78.16. RB Global has a 12-month low of $58.85 and a 12-month high of $87.45. The stock has a market cap of $14.87 billion, a PE ratio of 49.01, a P/E/G ratio of 5.22 and a beta of 0.93.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. RB Global’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, equities research analysts forecast that RB Global will post 1.92 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were given a dividend of $0.29 per share. This is a positive change from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 1.43%. RB Global’s dividend payout ratio is presently 69.88%.

Insiders Place Their Bets

In other news, CRO James J. Jeter sold 2,920 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the completion of the sale, the executive now owns 23,267 shares of the company’s stock, valued at $1,837,162.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CRO James J. Jeter sold 2,920 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $78.96, for a total value of $230,563.20. Following the completion of the sale, the executive now directly owns 23,267 shares of the company’s stock, valued at $1,837,162.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the completion of the transaction, the insider now owns 19,271 shares in the company, valued at approximately $1,595,638.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,601 shares of company stock worth $3,720,043. 4.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vontobel Asset Management Inc. raised its holdings in shares of RB Global by 66.5% in the 4th quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after acquiring an additional 2,655,388 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of RB Global by 5.1% during the first quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock valued at $1,827,528,000 after buying an additional 1,153,497 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in RB Global by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 1,337,790 shares of the business services provider’s stock worth $102,154,000 after buying an additional 787,042 shares in the last quarter. CIBC Asset Management Inc raised its position in RB Global by 1,879.0% in the 2nd quarter. CIBC Asset Management Inc now owns 626,603 shares of the business services provider’s stock valued at $47,761,000 after buying an additional 594,941 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in RB Global by 3,387.9% during the 2nd quarter. Principal Financial Group Inc. now owns 611,738 shares of the business services provider’s stock valued at $46,712,000 after acquiring an additional 594,199 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.