RB Global (NYSE:RBA) Upgraded by StockNews.com to “Buy” Rating

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

RBA has been the subject of a number of other reports. Robert W. Baird upped their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James upped their price target on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, CIBC lowered their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Performance

NYSE RBA opened at $97.26 on Tuesday. The company has a market cap of $17.97 billion, a P/E ratio of 48.39, a P/E/G ratio of 4.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The stock has a 50-day moving average of $94.80 and a two-hundred day moving average of $90.61. RB Global has a 1-year low of $69.83 and a 1-year high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, analysts anticipate that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio is currently 57.71%.

Institutional Investors Weigh In On RB Global

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares during the last quarter. State Street Corp raised its stake in shares of RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after purchasing an additional 103,080 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of RB Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock worth $357,434,000 after purchasing an additional 264,778 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in RB Global by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock worth $307,033,000 after acquiring an additional 19,895 shares during the period. 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.