RB Global, Inc. (NYSE:RBA) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• RB Global has a “Moderate Buy” consensus rating from 10 analysts, with seven buys, two holds and one strong buy. The average 12-month price target is $128, well above the reported share price of $83.19.
• The company reported quarterly EPS of $1.13, exceeding the $1.09 consensus estimate, while revenue reached $1.66 billion versus expectations of $1.21 billion.
• RB Global raised its quarterly dividend to $0.33 per share, equivalent to a $1.32 annualized payout and a 1.6% yield. Institutional investors own 95.37% of the stock, and a company director recently purchased 1,200 shares.

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA has been given an average rating of "Moderate Buy" by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $128.00.

A number of analysts have recently issued reports on RBA shares. Raymond James Financial raised shares of RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price target for the company in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of RB Global in a research note on Wednesday, August 5th. Weiss Ratings downgraded shares of RB Global from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Zacks Research lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada boosted their price target on shares of RB Global from $150.00 to $152.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th.

Insider Buying and Selling

In other news, Director Chloe Harford bought 1,200 shares of the stock in a transaction on Monday, August 24th. The shares were purchased at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the purchase, the director directly owned 1,200 shares of the company's stock, valued at $100,488. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On RB Global

Several large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in RB Global during the second quarter valued at approximately $1,816,059,000. EdgePoint Investment Group Inc. grew its position in RB Global by 14.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider's stock worth $845,337,000 after acquiring an additional 1,111,217 shares in the last quarter. State Street Corp increased its stake in shares of RB Global by 1.7% during the 4th quarter. State Street Corp now owns 6,290,640 shares of the business services provider's stock worth $647,118,000 after purchasing an additional 104,286 shares during the last quarter. Royal Bank of Canada increased its stake in shares of RB Global by 13.1% during the 1st quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider's stock worth $483,432,000 after purchasing an additional 585,617 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of RB Global by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider's stock worth $513,930,000 after purchasing an additional 250,887 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

RB Global Stock Performance

Shares of RBA stock opened at $83.19 on Friday. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 35.70, a P/E/G ratio of 1.42 and a beta of 0.52. RB Global has a 1-year low of $81.50 and a 1-year high of $119.58. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The stock's fifty day simple moving average is $101.07 and its 200-day simple moving average is $102.36.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data 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. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, sell-side analysts predict that RB Global will post 4.06 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This is a positive change from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. RB Global's payout ratio is 56.65%.

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.

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