RB Global (NYSE:RBA) Upgraded to Outperform at National Bank Financial

National Bank Financial upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a sector perform rating to an outperform rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have $124.00 price target on the business services provider’s stock.

Other analysts have also recently issued research reports about the stock. Raymond James Financial increased their price objective on shares of RB Global from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. National Bankshares dropped their price target on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 9th. Bank of America cut their price target on RB Global from $120.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, RB Global has an average rating of “Moderate Buy” and a consensus price target of $122.88.

RB Global Stock Down 0.8%

Shares of RB Global stock opened at $95.50 on Monday. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 47.28, a PEG ratio of 2.48 and a beta of 0.65. RB Global has a twelve month low of $86.68 and a twelve month high of $119.58. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $103.88 and its 200-day simple moving average is $107.52.

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

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, November 26th. RB Global’s dividend payout ratio is 59.33%.

Insider Buying and Selling at RB Global

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

Hedge Funds Weigh In On RB Global

Hedge funds have recently made changes to their positions in the business. MJP Associates Inc. ADV boosted its position in RB Global by 2.2% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock worth $471,000 after acquiring an additional 95 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after purchasing an additional 97 shares during the period. Archer Investment Corp grew its position in RB Global by 6.0% during the second quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 100 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after buying an additional 105 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in RB Global by 12.9% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 938 shares of the business services provider’s stock worth $102,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds 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.