RB Global, Inc. (NYSE:RBA) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on RB Global, with six buy ratings, three holds and one strong-buy rating. The average 12-month price target is $127.57, well above the stock’s recent $80.82 price.
• RB Global beat quarterly expectations, reporting $1.13 in EPS versus the $1.09 consensus and $1.66 billion in revenue versus $1.21 billion expected.
• The company raised its quarterly dividend to $0.33 per share, equivalent to a 1.6% yield, while institutional investors own 95.37% of outstanding shares.

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have earned a consensus rating of "Moderate Buy" from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $127.57.

RBA has been the subject of several analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $152.00 price target on shares of RB Global in a research report on Wednesday, September 23rd. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of RB Global in a research note on Wednesday, August 5th. Raymond James Financial upgraded RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 target price for the company in a report on Tuesday, June 30th. Barclays reduced their price target on RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Finally, Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th.

RB Global Trading Down 2.0%

Shares of RBA opened at $80.82 on Tuesday. RB Global has a fifty-two week low of $79.75 and a fifty-two week high of $119.33. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 1.41 and a beta of 0.52. The firm has a 50 day moving average price of $91.16 and a 200-day moving average price of $100.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. As a group, equities research analysts forecast that RB Global will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th were issued a $0.33 dividend. This is a positive change from RB Global's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 25th. RB Global's dividend payout ratio (DPR) is 56.65%.

Insider Buying and Selling at RB Global

In other news, Director Chloe Harford purchased 1,200 shares of the business's stock in a transaction on Monday, August 24th. The shares were acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the acquisition, the director directly owned 1,200 shares in the company, valued at approximately $100,488. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Deborah Stein acquired 500 shares of the firm's stock in a transaction on Wednesday, September 9th. The stock was purchased at an average price of $80.91 per share, for a total transaction of $40,455.00. Following the transaction, the director directly owned 2,325 shares of the company's stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is owned by insiders.

Institutional Trading of RB Global

Several large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in RB Global in the second quarter worth about $1,816,059,000. EdgePoint Investment Group Inc. increased its stake in shares of RB Global by 14.4% during the first quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider's stock valued at $845,337,000 after purchasing an additional 1,111,217 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of RB Global during the second quarter valued at approximately $514,871,000. Geode Capital Management LLC lifted its holdings in shares of RB Global by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 5,000,897 shares of the business services provider's stock valued at $513,930,000 after purchasing an additional 250,887 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of RB Global by 13.1% in 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 in the last quarter. 95.37% of the stock is owned by institutional investors.

About RB Global

RB Global, Inc NYSE: RBA operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.

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