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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $107.64.

Several research analysts have commented on the company. BMO Capital Markets raised their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com cut shares of RB Global from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada raised their target price on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James upped their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th.

RB Global Trading Up 0.1 %

NYSE RBA opened at $100.40 on Friday. The stock has a market cap of $18.55 billion, a PE ratio of 49.95, a PEG ratio of 4.95 and a beta of 0.94. RB Global has a 12 month low of $69.83 and a 12 month high of $106.90. The company’s 50-day moving average price is $96.21 and its 200-day moving average price is $91.28. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. Equities research analysts forecast that RB Global will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

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

Insider Buying and Selling

In other news, 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 transaction of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,897 shares of company stock worth $2,338,161 in the last 90 days. 4.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently modified their holdings of RBA. CoreCap Advisors LLC grew its position in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global during the fourth quarter valued at $27,000. Versant Capital Management Inc grew its holdings in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after buying an additional 176 shares during the last quarter. Jones Financial Companies Lllp raised its stake in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in RB Global in the 4th quarter worth $36,000. Institutional investors and hedge funds 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.