RB Global (NYSE:RBA) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a hold rating to a buy rating in a research report released on Tuesday.

A number of other research firms have also recently issued reports on RBA. CIBC dropped their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird lifted their price target on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their price objective on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. BMO Capital Markets lifted their price target on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James boosted their price objective on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RB Global currently has an average rating of “Moderate Buy” and an average target price of $107.64.

RB Global Price Performance

Shares of RBA stock opened at $98.78 on Tuesday. The stock’s 50-day moving average is $95.14 and its 200 day moving average is $90.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. RB Global has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a market cap of $18.25 billion, a P/E ratio of 49.15, a PEG ratio of 4.95 and a beta of 0.94.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period last year, the firm earned $0.82 earnings per share. Research analysts predict that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is 57.71%.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James J. Jeter sold 7,597 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,983,125.95. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of RB Global by 18.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider’s stock worth $441,000 after purchasing an additional 752 shares in the last quarter. Members Wealth LLC purchased a new position in RB Global during the fourth quarter worth $2,738,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of RB Global in the fourth quarter worth $3,590,000. Ascent Group LLC lifted its holdings in RB Global by 2.7% in the 4th quarter. Ascent Group LLC now owns 11,285 shares of the business services provider’s stock valued at $1,018,000 after purchasing an additional 295 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. purchased a new position in shares of RB Global during the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.