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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $107.64.

Several equities analysts have recently issued reports on the company. StockNews.com downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Wednesday. Raymond James upped their price objective on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. CIBC dropped their price objective on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the transaction, the executive now owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock valued at $2,338,161 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On RB Global

A number of large investors have recently modified their holdings of RBA. CoreCap Advisors LLC boosted its position in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after acquiring an additional 117 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc lifted its stake in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of RB Global in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Stock Performance

Shares of NYSE RBA opened at $100.40 on Friday. The company has a 50 day simple moving average of $96.21 and a two-hundred day simple moving average of $91.28. The stock has a market cap of $18.55 billion, a price-to-earnings ratio of 49.95, a PEG ratio of 4.95 and a beta of 0.94. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global has a 12 month low of $69.83 and a 12 month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter in the prior year, the firm earned $0.82 earnings per share. As a group, analysts predict that RB Global will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio is presently 57.71%.

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.