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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $114.50.

RBA has been the subject of several recent analyst reports. Raymond James boosted their target price on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. CIBC boosted their target price on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. BMO Capital Markets boosted their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. National Bankshares decreased their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada boosted their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th.

Insider Activity

In other news, CEO James Francis Kessler sold 15,700 shares of the business’s 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 transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. The trade was a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the transaction, the executive now directly owns 14,167 shares in the company, valued at approximately $1,515,302.32. The trade was a 12.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,472 shares of company stock valued at $3,867,745. Company insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RBA. CoreCap Advisors LLC increased its holdings in shares of RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the period. SouthState Corp acquired a new position in shares of RB Global in the first quarter valued at approximately $26,000. MV Capital Management Inc. boosted its stake in shares of RB Global by 5,560.0% in the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock valued at $28,000 after buying an additional 278 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of RB Global in the first quarter valued at approximately $28,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 1.3%

Shares of RB Global stock opened at $108.24 on Friday. RB Global has a 52-week low of $70.27 and a 52-week high of $108.30. The company has a 50 day moving average of $98.94 and a 200 day moving average of $95.50. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $20.04 billion, a P/E ratio of 53.85, a P/E/G ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, research analysts forecast that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s dividend payout ratio (DPR) is 57.14%.

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.