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

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have been given a consensus rating of "Moderate Buy" by the seven ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $115.79.

Several analysts have commented on RBA shares. Wall Street Zen lowered shares of RB Global from a "buy" rating to a "hold" rating in a research report on Saturday. CIBC increased their price objective on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Royal Bank Of Canada set a $125.00 price target on RB Global and gave the stock an "outperform" rating in a research note on Wednesday. Finally, National Bankshares dropped their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th.

RB Global Stock Up 0.3%

NYSE:RBA traded up $0.31 during trading hours on Friday, hitting $105.73. 673,403 shares of the company traded hands, compared to its average volume of 957,016. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The company has a market cap of $19.58 billion, a PE ratio of 52.08, a PEG ratio of 3.76 and a beta of 0.77. The firm's 50-day simple moving average is $105.11 and its 200-day simple moving average is $98.49. RB Global has a one year low of $70.38 and a one year high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.89. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The business's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities analysts predict that RB Global will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, May 29th. RB Global's payout ratio is 57.14%.

Insider Activity

In other news, insider Darren Jeffrey Watt sold 3,700 shares of RB Global stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $392,829.00. Following the completion of the sale, the insider owned 24,874 shares in the company, valued at approximately $2,640,872.58. This trade represents a 12.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO James J. Jeter sold 3,500 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $104.38, for a total transaction of $365,330.00. Following the completion of the transaction, the executive owned 16,167 shares in the company, valued at approximately $1,687,511.46. This trade represents a 17.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,075 shares of company stock valued at $2,007,349 in the last quarter. 4.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

Several hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC raised its position in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after buying an additional 117 shares in the last quarter. SouthState Corp purchased a new stake in RB Global during the first quarter valued at about $26,000. MV Capital Management Inc. lifted its stake in RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after purchasing an additional 278 shares during the last quarter. SVB Wealth LLC bought a new stake in RB Global during the first quarter worth about $28,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of 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 purchasing an additional 129 shares in 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.