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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $100.21.

RBA has been the subject of a number of research reports. CIBC decreased their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. BMO Capital Markets raised their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada upped their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Robert W. Baird lifted their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th.

Institutional Trading of RB Global

A number of hedge funds and other institutional investors have recently made changes to their positions in RBA. Vanguard Group Inc. grew its holdings in RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after acquiring an additional 358,752 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares during the last quarter. State Street Corp grew its stake in RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after purchasing an additional 103,080 shares in the last quarter. Geode Capital Management LLC increased its holdings in RB Global by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after buying an additional 264,778 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in RB Global by 0.7% during the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after buying an additional 24,101 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

RBA opened at $94.02 on Thursday. RB Global has a 52-week low of $65.79 and a 52-week high of $99.79. The company has a 50 day moving average of $91.51 and a two-hundred day moving average of $87.44. The company has a market cap of $17.37 billion, a P/E ratio of 51.10, a P/E/G ratio of 3.82 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

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.