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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $122.7143.

Several research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. National Bankshares reduced their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research report on Thursday, October 9th. CIBC upped their price objective on RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research report on Friday, July 18th. Raymond James Financial increased their target price on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings lowered RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th.

Insider Transactions at RB Global

In other RB Global news, insider Michael Thomas Steven Lewis sold 2,151 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deborah Stein purchased 1,000 shares of RB Global stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $101.26 per share, with a total value of $101,260.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $101,260. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 4.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

Several institutional investors and hedge funds have recently bought and sold shares of RBA. MJP Associates Inc. ADV increased its position in RB Global by 2.2% in the second quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock worth $471,000 after buying an additional 95 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 97 shares during the period. Securian Asset Management Inc. increased its holdings in RB Global by 0.7% in the 1st quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider’s stock worth $1,408,000 after acquiring an additional 100 shares in the last quarter. Archer Investment Corp increased its holdings in RB Global by 6.0% in the 2nd quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock worth $187,000 after acquiring an additional 100 shares in the last quarter. Finally, Wealth Alliance LLC raised its stake in RB Global by 2.7% during the 1st quarter. Wealth Alliance LLC now owns 3,976 shares of the business services provider’s stock worth $399,000 after acquiring an additional 104 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of NYSE RBA opened at $101.55 on Friday. The company has a 50 day simple moving average of $106.25 and a two-hundred day simple moving average of $107.64. RB Global has a fifty-two week low of $86.68 and a fifty-two week high of $119.58. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of 50.27, a P/E/G ratio of 2.48 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, November 26th. RB Global’s dividend payout ratio (DPR) is presently 59.33%.

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.