RB Global, Inc. (NYSE:RBA) Receives Average Recommendation of “Buy” from Brokerages

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $129.2857.

Several equities research analysts recently commented on RBA shares. Raymond James Financial increased their price objective on RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. National Bank Financial raised shares of RB Global from a “sector perform” rating to an “outperform” rating and set a $124.00 price target on the stock in a report on Monday, November 24th. BMO Capital Markets boosted their price objective on shares of RB Global from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Royal Bank Of Canada increased their price objective on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th.

Insider Activity

In related news, CEO James Francis Kessler sold 20,742 shares of RB Global 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 completion of the sale, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. The trade was a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after purchasing an additional 5,090 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of RB Global by 53.1% in the first quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock worth $59,000 after buying an additional 204 shares during the last quarter. Jones Financial Companies Lllp grew its position in RB Global by 857.9% during the first quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after buying an additional 3,346 shares during the period. Goldman Sachs Group Inc. grew its position in RB Global by 35.6% during the first quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock valued at $33,940,000 after buying an additional 88,813 shares during the period. Finally, Woodline Partners LP purchased a new stake in RB Global during the first quarter valued at approximately $4,103,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Price Performance

Shares of NYSE RBA opened at $97.94 on Friday. The firm has a market cap of $18.21 billion, a P/E ratio of 48.01, a PEG ratio of 1.55 and a beta of 0.57. RB Global has a twelve month low of $87.87 and a twelve month high of $119.58. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $108.42 and a 200 day moving average of $106.42.

RB Global (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, February 17th. The business services provider reported $1.11 EPS for the quarter, topping 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company earned $0.95 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 9th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, February 9th. RB Global’s dividend payout ratio is presently 60.78%.

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.