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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $125.00.

A number of research analysts recently commented on RBA shares. Raymond James Financial boosted their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Stephens reaffirmed an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a report on Tuesday. Weiss Ratings raised shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Royal Bank Of Canada increased their price target on shares of RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday.

Insider Activity

In other news, Director Deborah Stein bought 400 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired at an average price of $98.74 per share, for a total transaction of $39,496.00. Following the transaction, the director directly owned 1,400 shares of the company’s stock, valued at $138,236. This trade represents a 40.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On RB Global

A number of hedge funds have recently made changes to their positions in RBA. Vanguard Group Inc. increased its position in RB Global by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock valued at $2,744,455,000 after acquiring an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of RB Global by 1.5% in 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 purchasing an additional 165,260 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of RB Global by 11.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock valued at $792,934,000 after purchasing an additional 821,319 shares during the last quarter. State Street Corp boosted its stake in RB Global by 1.7% during the 4th quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock worth $647,118,000 after acquiring an additional 104,286 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in RB Global by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider’s stock worth $513,930,000 after acquiring an additional 250,887 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Down 0.5%

RBA stock opened at $105.98 on Friday. RB Global has a 52-week low of $93.58 and a 52-week high of $119.58. The company’s 50 day simple moving average is $101.02 and its 200-day simple moving average is $103.46. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.02. The firm has a market capitalization of $19.70 billion, a P/E ratio of 49.29, a P/E/G ratio of 1.62 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts anticipate that RB Global will post 4.04 EPS for the current year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Wednesday, May 27th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. RB Global’s dividend payout ratio (DPR) is 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.