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

Key Points

• RB Global, Inc. (NYSE:RBA) has an average recommendation of "Moderate Buy" from brokerages, with three analysts rating it as a hold and four as a buy.
• The company's latest earnings report revealed $1.07 earnings per share, exceeding analyst expectations, and an 8.2% increase in revenue year-over-year.
• RB Global announced an increase in its quarterly dividend to $0.31 per share, resulting in a dividend yield of 1.1%.

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

RBA has been the topic of a number of analyst reports. BMO Capital Markets increased their price target on RB Global from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Royal Bank Of Canada increased their price target on RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. National Bankshares increased their price target on RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised RB Global from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

Insider Buying and Selling

In other RB Global news, CEO James Francis Kessler sold 45,658 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the completion of the sale, the chief executive officer directly owned 107,569 shares in the company, valued at $11,832,590. This represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 7,400 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $110.00, for a total value of $814,000.00. Following the sale, the insider owned 24,874 shares of the company's stock, valued at $2,736,140. The trade was a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,558 shares of company stock valued at $6,314,145 over the last 90 days. 4.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBA. CoreCap Advisors LLC lifted its stake in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after purchasing an additional 117 shares during the last quarter. SouthState Corp bought a new stake in RB Global during the first quarter worth $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 $28,000. Finally, IFP Advisors Inc lifted its stake in RB Global by 348.8% during the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after purchasing an additional 279 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

RB Global Stock Performance

Shares of RB Global stock traded down $0.06 on Monday, hitting $114.57. The stock had a trading volume of 805,743 shares, compared to its average volume of 1,037,419. RB Global has a twelve month low of $78.08 and a twelve month high of $118.23. The business's 50 day moving average is $110.19 and its two-hundred day moving average is $104.20. The company has a quick ratio of 1.22, a current ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock has a market cap of $21.26 billion, a price-to-earnings ratio of 56.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.75.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Wednesday, August 6th. The business services provider reported $1.07 EPS for the quarter, beating 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 company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. Analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Increases Dividend

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

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.