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

by · The Cerbat Gem

RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $114.50.

Several research analysts have recently weighed in on the company. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Tuesday. Raymond James boosted their price target on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Royal Bank of Canada boosted their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. CIBC boosted their price target on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. Finally, National Bankshares decreased their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th.

View Our Latest Stock Analysis on RB Global

RB Global Stock Down 0.9%

Shares of RB Global stock opened at $108.07 on Friday. The company has a 50-day simple moving average of $99.70 and a two-hundred day simple moving average of $95.97. The stock has a market capitalization of $20.01 billion, a PE ratio of 53.77, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78. RB Global has a 52-week low of $70.27 and a 52-week high of $109.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. On average, analysts anticipate that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.07%. RB Global’s dividend payout ratio is presently 57.14%.

Insider Buying and Selling at RB Global

In other news, insider Andrew John Fesler sold 9,075 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total value of $950,334.00. Following the completion of the sale, the insider now directly owns 5,532 shares in the company, valued at $579,311.04. This represents a 62.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO James J. Jeter sold 7,597 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares of the company’s stock, valued at $1,983,125.95. This trade represents a 27.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,472 shares of company stock worth $3,867,745. Insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On RB Global

Several hedge funds and other institutional investors have recently modified their holdings of RBA. Park Avenue Securities LLC increased its stake in shares of RB Global by 8.9% in the 4th quarter. Park Avenue Securities LLC now owns 8,082 shares of the business services provider’s stock worth $729,000 after purchasing an additional 658 shares in the last quarter. Cypress Wealth Services LLC purchased a new position in RB Global during the fourth quarter valued at approximately $224,000. Avanza Fonder AB purchased a new position in RB Global during the fourth quarter valued at approximately $1,234,000. Integrated Investment Consultants LLC boosted its position in shares of RB Global by 8.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 3,134 shares of the business services provider’s stock worth $283,000 after purchasing an additional 257 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of RB Global by 60.1% in the fourth quarter. UMB Bank n.a. now owns 938 shares of the business services provider’s stock worth $85,000 after purchasing an additional 352 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Company Profile

(Get Free Report

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.

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