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

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 received an average recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $119.7857.

RBA has been the subject of several research reports. Wall Street Zen upgraded shares of RB Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Raymond James Financial lifted their price objective on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. National Bankshares lifted their price objective on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. CIBC lifted their price objective on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a research note on Friday, July 18th. Finally, National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th.

RB Global Price Performance

Shares of RBA opened at $116.32 on Monday. The company has a market cap of $21.58 billion, a price-to-earnings ratio of 57.58, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. RB Global has a twelve month low of $78.08 and a twelve month high of $118.23. 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 company has a 50 day moving average of $109.18 and a two-hundred day moving average of $103.59.

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

RB Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 28th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. This is a boost from RB Global's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 28th. RB Global's dividend payout ratio is 57.43%.

Insider Buying and Selling

In related news, Director Adam Dewitt sold 800 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the transaction, the director owned 5,865 shares of the company's stock, valued at $622,687.05. This trade represents a 12.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Darren Jeffrey Watt sold 7,400 shares of the firm'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 $814,000.00. Following the transaction, the insider directly owned 24,874 shares of the company's stock, valued at approximately $2,736,140. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,558 shares of company stock valued at $6,314,145 over the last 90 days. Insiders own 0.28% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. MJP Associates Inc. ADV raised its holdings in shares of RB Global by 2.2% during the second 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. raised its position in shares of RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock worth $54,000 after acquiring an additional 97 shares during the period. Securian Asset Management Inc. raised its position in shares of RB Global by 0.7% in the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider's stock worth $1,408,000 after acquiring an additional 100 shares during the period. Archer Investment Corp raised its position in shares of RB Global by 6.0% in the second quarter. Archer Investment Corp now owns 1,760 shares of the business services provider's stock worth $187,000 after acquiring an additional 100 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of RB Global by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider's stock worth $106,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

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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