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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $128.00.

A number of analysts recently weighed in on the company. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Barclays reduced their price target on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Zacks Research lowered shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Raymond James Financial raised shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, June 30th.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein purchased 425 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was acquired 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 directly owned 1,825 shares in the company, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RBA. Freestone Grove Partners LP purchased a new position in shares of RB Global in the second quarter worth about $16,254,000. Caisse de depot et placement du Quebec purchased a new stake in RB Global during the 2nd quarter valued at about $183,651,000. Man Group plc purchased a new stake in RB Global during the 2nd quarter valued at about $6,146,000. Invst LLC bought a new position in RB Global during the 2nd quarter worth approximately $1,252,000. Finally, Polar Asset Management Partners Inc. bought a new position in RB Global during the 2nd quarter worth approximately $446,000. 95.37% of the stock is owned by institutional investors.

RB Global Trading Down 0.0%

NYSE RBA opened at $84.24 on Monday. The stock’s 50-day simple moving average is $107.80 and its two-hundred day simple moving average is $105.21. RB Global has a twelve month low of $83.59 and a twelve month high of $119.58. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 1.44 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. Research analysts forecast that RB Global will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be paid a $0.33 dividend. This is a boost from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 25th. RB Global’s payout ratio is presently 53.22%.

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.