RB Global, Inc. (NYSE:RBA) Receives Average Rating of “Buy” from Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been given an average recommendation of “Buy” by the six research firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $82.80.

A number of research analysts have recently weighed in on RBA shares. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Raymond James boosted their target price on RB Global from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Scotiabank upped their target price on RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Monday, February 26th. Finally, Royal Bank of Canada upped their price objective on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th.

Insider Transactions at RB Global

In other news, insider Darren Jeffrey Watt sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the sale, the insider now owns 21,103 shares in the company, valued at $1,625,986.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other RB Global news, CRO James J. Jeter sold 11,416 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $76.32, for a total transaction of $871,269.12. Following the transaction, the executive now owns 30,915 shares in the company, valued at $2,359,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $77.05, for a total value of $84,755.00. Following the transaction, the insider now owns 21,103 shares in the company, valued at approximately $1,625,986.15. The disclosure for this sale can be found here. Insiders have sold 14,816 shares of company stock worth $1,133,055 over the last quarter. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

A number of hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC lifted its position in shares of RB Global by 6.4% in the first quarter. HighTower Advisors LLC now owns 21,697 shares of the business services provider’s stock valued at $1,275,000 after acquiring an additional 1,306 shares in the last quarter. Citigroup Inc. lifted its position in shares of RB Global by 26.0% in the first quarter. Citigroup Inc. now owns 34,995 shares of the business services provider’s stock valued at $2,069,000 after acquiring an additional 7,218 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of RB Global by 11.1% in the first quarter. PNC Financial Services Group Inc. now owns 19,188 shares of the business services provider’s stock valued at $1,131,000 after acquiring an additional 1,914 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of RB Global by 1.6% in the first quarter. Great West Life Assurance Co. Can now owns 100,957 shares of the business services provider’s stock valued at $6,322,000 after acquiring an additional 1,548 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of RB Global by 14.9% in the first quarter. Dimensional Fund Advisors LP now owns 284,874 shares of the business services provider’s stock valued at $16,816,000 after acquiring an additional 37,047 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Trading Up 0.3 %

NYSE RBA opened at $73.33 on Friday. RB Global has a 12 month low of $51.07 and a 12 month high of $77.99. The stock has a market cap of $13.40 billion, a P/E ratio of 86.26, a P/E/G ratio of 5.55 and a beta of 0.87. The stock’s fifty day moving average price is $73.82 and its 200-day moving average price is $67.67. The company has a current ratio of 1.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.61.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. RB Global had a return on equity of 4.19% and a net margin of 5.61%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 134.5% on a year-over-year basis. As a group, equities analysts forecast that RB Global will post 1.88 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $0.27 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.47%. RB Global’s payout ratio is 127.06%.

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.