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

Key Points

• RB Global, Inc. has received an average rating of "Moderate Buy" from seven analysts, with a 12-month price target averaging $124.00.
• The company reported earnings of $1.07 per share for the last quarter, exceeding analysts' expectations and showing an 8.2% increase in revenue year-over-year.
• RB Global recently increased its quarterly dividend from $0.29 to $0.31, reflecting a dividend yield of 1.2% with a payout ratio of 61.39%.

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA has been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $124.00.

Several analysts have recently weighed in on RBA shares. CIBC lifted their target price on RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research report on Friday, July 18th. Weiss Ratings upgraded RB Global from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Raymond James Financial lifted their price objective on RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, August 7th.

RB Global Stock Up 1.0%

NYSE:RBA opened at $105.01 on Tuesday. RB Global has a twelve month low of $78.55 and a twelve month high of $119.58. The company has a market cap of $19.50 billion, a price-to-earnings ratio of 51.99, a price-to-earnings-growth ratio of 2.42 and a beta of 0.65. The stock has a fifty day simple moving average of $113.13 and a 200-day simple moving average of $107.03. The company has a current ratio of 1.28, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.12. RB Global had a return on equity of 9.42% and a net margin of 9.46%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.94 earnings per share. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts anticipate that RB Global will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were issued a $0.31 dividend. The ex-dividend date was Thursday, August 28th. This is an increase from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global's dividend payout ratio is presently 61.39%.

Insider Buying and Selling at RB Global

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of RB Global stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total value of $254,140.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On RB Global

A number of large investors have recently added to or reduced their stakes in the company. MJP Associates Inc. ADV increased its position in shares of RB Global by 2.2% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider's stock worth $471,000 after purchasing an additional 95 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock worth $54,000 after purchasing an additional 97 shares during the last quarter. Securian Asset Management Inc. increased its position in shares of RB Global by 0.7% during the 1st quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock worth $1,408,000 after purchasing an additional 100 shares during the last quarter. Archer Investment Corp increased its position in shares of RB Global by 6.0% during the 2nd quarter. Archer Investment Corp now owns 1,760 shares of the business services provider's stock worth $187,000 after purchasing an additional 100 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of RB Global by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after purchasing an additional 104 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Company Profile

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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