RB Global (NYSE:RBA) Share Price Passes Above 200 Day Moving Average – Time to Sell?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $106.80 and traded as high as $111.26. RB Global shares last traded at $111.04, with a volume of 700,220 shares traded.

Analysts Set New Price Targets

RBA has been the subject of several analyst reports. Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price objective for the company in a research note on Monday, November 24th. National Bankshares dropped their target price on 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. Royal Bank Of Canada increased their price target on RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $122.88.

RB Global Stock Up 1.7%

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.23 and a quick ratio of 1.15. The stock has a market cap of $20.64 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 2.08 and a beta of 0.57. The business has a fifty day moving average of $101.72 and a 200-day moving average of $106.80.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.83 by $0.10. RB Global had a return on equity of 9.66% and a net margin of 9.65%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $0.71 EPS. RB Global’s quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 26th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, November 26th. RB Global’s payout ratio is presently 59.33%.

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein bought 1,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average price of $101.26 per share, with a total value of $101,260.00. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $101,260. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RB Global

A number of hedge funds and other institutional investors have recently modified their holdings of RBA. Cidel Asset Management Inc. raised its stake in shares of RB Global by 1.8% in the second quarter. Cidel Asset Management Inc. now owns 689,600 shares of the business services provider’s stock worth $73,115,000 after purchasing an additional 11,881 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in RB Global in the second quarter valued at approximately $19,717,000. Voya Investment Management LLC boosted its position in RB Global by 12.8% in the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider’s stock valued at $3,389,000 after buying an additional 3,847 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its holdings in RB Global by 4.7% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 74,316 shares of the business services provider’s stock worth $7,892,000 after buying an additional 3,361 shares during the period. Finally, Kathmere Capital Management LLC purchased a new position in RB Global during the 2nd quarter worth approximately $476,000. 95.37% of the stock is currently owned by institutional investors.

About RB Global

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.