RB Global, Inc. (NYSE:RBA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $124.1250.

A number of research analysts have recently issued reports on the company. Raymond James Financial increased their target price on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday. Bank of America cut their price target on shares of RB Global from $120.00 to $114.00 and set a “buy” rating for the company in a report on Friday, November 7th. Weiss Ratings downgraded shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Royal Bank Of Canada lifted their target price on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 target price for the company in a research note on Monday, November 24th.

Insider Activity at RB Global

In other news, Director Deborah Stein bought 1,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $101.26 per share, for a total transaction of $101,260.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $101,260. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.32% of the stock is owned by insiders.

Institutional Trading of RB Global

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in RB Global in the 2nd quarter valued at $255,798,000. JARISLOWSKY FRASER Ltd purchased a new stake in shares of RB Global during the third quarter worth $195,640,000. Massachusetts Financial Services Co. MA raised its position in shares of RB Global by 7.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,726,926 shares of the business services provider’s stock valued at $1,162,370,000 after buying an additional 705,423 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of RB Global by 10.3% in the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock worth $781,862,000 after buying an additional 672,450 shares in the last quarter. Finally, Kensico Capital Management Corp lifted its stake in shares of RB Global by 152.0% in the third quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock worth $113,128,000 after buying an additional 629,700 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Price Performance

NYSE:RBA opened at $115.61 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.46. RB Global has a 52 week low of $86.68 and a 52 week high of $119.58. The stock’s 50-day moving average price is $103.56 and its 200-day moving average price is $107.12. The stock has a market capitalization of $21.49 billion, a PE ratio of 55.31, a price-to-earnings-growth ratio of 2.15 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business posted $0.71 earnings per share. RB Global’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, February 9th. RB Global’s payout ratio is 59.33%.

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.