RB Global, Inc. (NYSE:RBA) Given Consensus Recommendation of “Buy” by Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have received an average rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $129.2857.

A number of research firms recently commented on RBA. Raymond James Financial upped their price objective on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada upped their price objective on RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Finally, BMO Capital Markets upped their price objective on RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th.

Insider Buying and Selling

In other news, Director Deborah Stein purchased 400 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $98.74 per share, for a total transaction of $39,496.00. Following the completion of the purchase, the director directly owned 1,400 shares of the company’s stock, valued at approximately $138,236. This trade represents a 40.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Francis Kessler sold 20,742 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total value of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares in the company, valued at $12,370,435. This trade represents a 16.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new position in RB Global during the third quarter worth $1,724,000. Cibc World Market Inc. lifted its stake in RB Global by 60.7% during the third quarter. Cibc World Market Inc. now owns 179,707 shares of the business services provider’s stock worth $19,461,000 after purchasing an additional 67,860 shares in the last quarter. Fiera Capital Corp lifted its stake in RB Global by 4.9% during the third quarter. Fiera Capital Corp now owns 4,067,003 shares of the business services provider’s stock worth $440,353,000 after purchasing an additional 190,408 shares in the last quarter. JCIC Asset Management Inc. acquired a new position in RB Global during the third quarter worth $3,621,000. Finally, TD Asset Management Inc lifted its stake in RB Global by 1.2% during the third quarter. TD Asset Management Inc now owns 949,779 shares of the business services provider’s stock worth $102,896,000 after purchasing an additional 10,877 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Price Performance

RBA stock opened at $97.89 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02. The business has a 50 day simple moving average of $103.71 and a 200-day simple moving average of $104.01. The firm has a market capitalization of $18.20 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 1.49 and a beta of 0.57. RB Global has a 1 year low of $87.87 and a 1 year high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. RB Global had a return on equity of 11.12% and a net margin of 9.33%.The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were issued a $0.31 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. RB Global’s dividend payout ratio is currently 60.78%.

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.