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

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $82.80.

Several equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Raymond James increased their price objective on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, Scotiabank increased their price objective on shares of RB Global from $76.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Monday, February 26th.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total value of $177,031.00. Following the transaction, the insider now owns 21,103 shares in the company, valued at $1,624,297.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Darren Jeffrey Watt sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.97, for a total value of $177,031.00. Following the transaction, the insider now owns 21,103 shares in the company, valued at $1,624,297.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CRO James J. Jeter sold 11,416 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the completion of the transaction, the executive now owns 30,915 shares in the company, valued at approximately $2,359,432.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,816 shares of company stock worth $1,133,055. Company insiders own 4.10% of the company’s stock.

Institutional Trading of RB Global

Large investors have recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC acquired a new stake in RB Global in the third quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in RB Global in the third quarter valued at approximately $26,000. Oakworth Capital Inc. grew its position in RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 162 shares in the last quarter. Cornerstone Planning Group LLC acquired a new stake in RB Global in the second quarter valued at approximately $45,000. Finally, Quilter Plc acquired a new stake in RB Global in the first quarter valued at approximately $587,759,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Price Performance

RB Global stock opened at $73.33 on Friday. RB Global has a 12-month low of $51.07 and a 12-month high of $77.99. The stock has a market capitalization of $13.40 billion, a P/E ratio of 86.27, a P/E/G ratio of 5.67 and a beta of 0.87. The firm’s 50-day moving average is $73.33 and its two-hundred day moving average is $67.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.35 and a quick ratio of 1.23.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 134.5% compared to the same quarter last year. Equities analysts predict that RB Global will post 1.88 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $0.27 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.08 annualized dividend and a yield of 1.47%. RB Global’s payout ratio is 127.06%.

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.