RB Global (NYSE:RBA) Rating Increased to Strong-Buy at Barclays

Barclays upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

RBA has been the topic of a number of other reports. Stephens reissued an “equal weight” rating and set a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. BMO Capital Markets reissued an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a report on Tuesday. Finally, Royal Bank Of Canada increased their price target on shares of RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, RB Global presently has a consensus rating of “Buy” and an average target price of $126.13.

RB Global Stock Up 1.9%

NYSE:RBA opened at $105.87 on Thursday. The firm has a market capitalization of $19.68 billion, a P/E ratio of 49.24, a PEG ratio of 1.66 and a beta of 0.57. RB Global has a 1-year low of $93.58 and a 1-year high of $119.58. The company’s fifty day moving average price is $101.79 and its 200-day moving average price is $103.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts anticipate that RB Global will post 4.09 EPS for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. RB Global’s dividend payout ratio is currently 57.67%.

Insiders Place Their Bets

In related news, Director Deborah Stein acquired 425 shares of RB Global stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of large investors have recently added to or reduced their stakes in RBA. MV Capital Management Inc. acquired a new position in RB Global during the fourth quarter worth $29,000. Bayban acquired a new position in RB Global during the fourth quarter worth $34,000. Central Pacific Bank Trust Division raised its position in RB Global by 41.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock worth $37,000 after acquiring an additional 107 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in RB Global during the first quarter worth $43,000. Finally, State of Wyoming acquired a new stake in shares of RB Global in the second quarter valued at about $46,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.