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

Key Points

• RB Global, Inc. has received a consensus rating of "Moderate Buy" from six analysts, with a 12-month price target averaging $124.33.
• Insider transactions include CEO James Francis Kessler selling 45,658 shares at an average price of $110, reflecting a significant decrease in his ownership.
• The company recently declared an increased quarterly dividend of $0.31 per share, raising its annualized dividend to $1.24, which corresponds to a yield of 1.1%.

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have been assigned an average rating of "Moderate Buy" from the six analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $124.3333.

A number of research analysts have recently commented on the stock. National Bankshares boosted their price target on shares of RB Global from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Raymond James Financial boosted their price target on shares of RB Global from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price target on shares of RB Global from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price target on shares of RB Global from $125.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th.

Insider Buying and Selling

In other RB Global 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 transaction of $254,140.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 45,658 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $5,022,380.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares of the company's stock, valued at $11,832,590. The trade was a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,209 shares of company stock worth $6,090,521. Corporate insiders own 4.32% of the company's stock.

Hedge Funds Weigh In On RB Global

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. boosted its holdings in shares of RB Global by 81.4% in the 2nd quarter. Osaic Holdings Inc. now owns 18,372 shares of the business services provider's stock worth $1,899,000 after purchasing an additional 8,243 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of RB Global by 3.3% in the 2nd quarter. Squarepoint Ops LLC now owns 10,878 shares of the business services provider's stock worth $1,155,000 after purchasing an additional 348 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of RB Global by 0.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 43,604 shares of the business services provider's stock worth $4,630,000 after purchasing an additional 366 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in shares of RB Global in the 2nd quarter worth about $2,655,000. Finally, State of Wyoming purchased a new position in shares of RB Global in the 2nd quarter worth about $46,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

RB Global Trading Down 0.1%

Shares of RBA stock opened at $117.95 on Friday. The company's fifty day simple moving average is $113.21 and its two-hundred day simple moving average is $105.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22. RB Global has a 1 year low of $78.08 and a 1 year high of $118.91. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 2.75 and a beta of 0.65.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its earnings results on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that RB Global will post 2.5 earnings per share for the current year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were given a dividend of $0.31 per share. This is an increase from RB Global's previous quarterly dividend of $0.29. The ex-dividend date was Thursday, August 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global's dividend payout ratio (DPR) is presently 61.39%.

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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