RB Global, Inc. (NYSE:RBA) Receives $127.12 Average PT from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have received an average recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $128.00.

A number of equities research analysts have recently issued reports on the company. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a report on Tuesday, June 30th. Weiss Ratings restated a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research raised RB Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Finally, National Bank Financial increased their price objective on shares of RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, July 13th.

Insider Buying and Selling at RB Global

In other news, Director Deborah Stein acquired 425 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $103.15 per share, with a total value of $43,838.75. Following the acquisition, the director directly owned 1,825 shares in the company, valued at $188,248.75. The trade was a 30.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RB Global

Large investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of RB Global by 6,120,490.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock worth $251,851,000 after purchasing an additional 2,448,196 shares during the last quarter. Norges Bank bought a new position in RB Global in the 4th quarter valued at approximately $231,813,000. Lazard Asset Management LLC bought a new position in RB Global in the 1st quarter valued at approximately $210,091,000. EdgePoint Investment Group Inc. boosted its position in RB Global by 14.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after buying an additional 1,111,217 shares during the period. Finally, Royal Bank of Canada boosted its position in RB Global by 13.1% during the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock worth $483,432,000 after buying an additional 585,617 shares during the period. 95.37% of the stock is currently owned by institutional investors.

RB Global Price Performance

Shares of RBA opened at $111.76 on Thursday. The company has a market cap of $20.78 billion, a price-to-earnings ratio of 51.98, a PEG ratio of 1.75 and a beta of 0.55. RB Global has a 1-year low of $93.58 and a 1-year high of $119.58. The company’s fifty day simple moving average is $108.04 and its 200 day simple moving average is $106.12. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.04. The firm had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, research analysts forecast that RB Global will post 4.16 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s dividend payout ratio is presently 57.67%.

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.