RB Global, Inc. (NYSE:RBA) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $126.29.

RBA has been the subject of several research reports. Barclays lowered their price objective on shares of RB Global from $121.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Zacks Research cut RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. National Bank Financial lifted their target price on RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Finally, Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th.

Insider Activity

In other news, Director Deborah Stein bought 500 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were purchased at an average cost of $80.91 per share, with a total value of $40,455.00. Following the acquisition, the director directly owned 2,325 shares in the company, valued at $188,115.75. This represents a 27.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chloe Harford bought 1,200 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was acquired at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the transaction, the director owned 1,200 shares of the company’s stock, valued at approximately $100,488. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. State of Wyoming raised its position in shares of RB Global by 366.1% in the third quarter. State of Wyoming now owns 10,483 shares of the business services provider’s stock valued at $853,000 after purchasing an additional 8,234 shares during the period. Choreo LLC bought a new position in RB Global in the 3rd quarter worth approximately $247,000. Pinnacle Wealth Planning Services Inc. boosted its holdings in RB Global by 32.9% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,286 shares of the business services provider’s stock worth $186,000 after buying an additional 566 shares during the period. North Dakota State Investment Board grew its stake in RB Global by 3.3% in the 3rd quarter. North Dakota State Investment Board now owns 5,694 shares of the business services provider’s stock valued at $463,000 after buying an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC grew its stake in RB Global by 10.0% in the 3rd quarter. Tectonic Advisors LLC now owns 66,826 shares of the business services provider’s stock valued at $5,439,000 after buying an additional 6,091 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 1.5%

Shares of RBA opened at $89.66 on Friday. RB Global has a 12 month low of $78.05 and a 12 month high of $119.33. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $83.89 and a two-hundred day moving average price of $99.86. The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 38.48, a P/E/G ratio of 1.51 and a beta of 0.53.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. Equities analysts predict that RB Global will post 4.06 EPS for the current fiscal year.

RB Global announced that its board has initiated a share repurchase program on Tuesday, September 15th that authorizes the company to repurchase $500 million in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

RB Global Company Profile

RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.

Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.