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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $115.79.

RBA has been the subject of several recent analyst reports. National Bank Financial cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 25th. Raymond James Financial lifted their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. National Bankshares decreased their target price on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Robert W. Baird lifted their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Finally, CIBC lifted their price target on shares of RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th.

RB Global Trading Up 0.3%

Shares of NYSE RBA opened at $105.73 on Friday. RB Global has a 1 year low of $70.38 and a 1 year high of $109.25. The stock has a market cap of $19.58 billion, a P/E ratio of 52.08, a price-to-earnings-growth ratio of 3.76 and a beta of 0.77. The firm has a 50-day moving average of $105.11 and a 200 day moving average of $98.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. RB Global’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. As a group, sell-side analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.10%. RB Global’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling at RB Global

In related news, insider Andrew John Fesler sold 9,075 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider directly owned 5,532 shares in the company, valued at approximately $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total transaction of $213,920.00. Following the sale, the executive owned 14,167 shares in the company, valued at $1,515,302.32. The trade was a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,075 shares of company stock valued at $2,007,349. 4.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC boosted its holdings in RB Global by 12.8% in the 1st quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock worth $3,389,000 after buying an additional 3,847 shares during the period. Strs Ohio bought a new position in RB Global in the 1st quarter worth $1,849,000. Geneos Wealth Management Inc. boosted its holdings in RB Global by 21.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares during the period. Intech Investment Management LLC boosted its holdings in RB Global by 77.0% in the 1st quarter. Intech Investment Management LLC now owns 77,800 shares of the business services provider’s stock worth $7,807,000 after buying an additional 33,845 shares during the period. Finally, Jane Street Group LLC boosted its holdings in RB Global by 1,469.4% in the 1st quarter. Jane Street Group LLC now owns 365,071 shares of the business services provider’s stock worth $36,617,000 after buying an additional 341,809 shares during the period. Institutional investors own 95.37% of the company’s stock.

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.