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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $98.36.

Several equities analysts have weighed in on the company. Robert W. Baird lifted their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets boosted their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Raymond James increased their target price on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Bank of America boosted their price target on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada increased their price objective on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th.

RB Global Stock Performance

Shares of RBA stock opened at $97.68 on Friday. The company has a market capitalization of $18.01 billion, a price-to-earnings ratio of 53.09, a P/E/G ratio of 4.73 and a beta of 0.92. RB Global has a 1-year low of $60.84 and a 1-year high of $99.79. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $86.09 and its 200-day simple moving average is $81.62.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, November 27th. RB Global’s payout ratio is 63.04%.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 17,883 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the transaction, the chief executive officer now owns 86,247 shares of the company’s stock, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On RB Global

A number of large investors have recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. lifted its stake in shares of RB Global by 1.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock worth $652,590,000 after buying an additional 114,225 shares during the last quarter. State Street Corp raised its holdings in RB Global by 2.1% in the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after acquiring an additional 103,080 shares during the period. Geode Capital Management LLC lifted its position in RB Global by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock worth $297,400,000 after acquiring an additional 108,188 shares during the last quarter. Janus Henderson Group PLC boosted its holdings 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 acquiring an additional 24,101 shares during the period. Finally, Cooke & Bieler LP grew its position in shares of RB Global by 3.4% in the second quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock valued at $252,865,000 after purchasing an additional 109,056 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

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.