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

Key Points

• RB Global has a consensus analyst rating of “Moderate Buy”, with seven of eight analysts recommending the stock and an average 12-month price target of about $126.13.
• The company recently beat expectations in its latest quarter, posting $1.01 EPS versus the $0.97 estimate and revenue of $1.21 billion, up 11.4% year over year.
• RB Global also paid a quarterly dividend of $0.31 per share, equal to a 1.1% annualized yield, while insider and institutional ownership remains significant.

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA has been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $126.1250.

Several research analysts have commented on RBA shares. BMO Capital Markets restated an "outperform" rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Royal Bank Of Canada upped their target price on shares of RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Stephens reiterated an "equal weight" rating and issued a $96.00 price objective on shares of RB Global in a report on Tuesday, May 5th. Barclays initiated coverage on shares of RB Global in a report on Thursday, May 28th. They issued an "overweight" rating and a $124.00 price objective for the company. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of RB Global in a report on Tuesday, May 26th.

Insider Activity

In related news, Director Deborah Stein acquired 425 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the acquisition, the director directly owned 1,825 shares of the company's stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of RB Global by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider's stock valued at $1,120,479,000 after acquiring an additional 165,260 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in 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 during the last quarter. State Street Corp lifted its stake in RB Global by 1.7% during the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider's stock valued at $647,118,000 after purchasing an additional 104,286 shares during the last quarter. Royal Bank of Canada lifted its stake in RB Global by 13.1% during the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider's stock valued at $483,432,000 after purchasing an additional 585,617 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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. 95.37% of the stock is currently owned by institutional investors.

RB Global Price Performance

NYSE RBA opened at $110.54 on Friday. RB Global has a 52 week low of $93.58 and a 52 week high of $119.58. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of 51.41, a price-to-earnings-growth ratio of 1.76 and a beta of 0.57. The company has a 50-day moving average price of $104.94 and a two-hundred day moving average price of $104.77.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Monday, May 4th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.97 by $0.04. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. RB Global's quarterly revenue was up 11.4% on a year-over-year basis. Analysts forecast that RB Global will post 4.09 EPS for the current year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were issued a $0.31 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global's dividend payout ratio (DPR) is 57.67%.

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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