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

Key Points

• Analyst sentiment is bullish: RB Global has an average rating of “Buy” from nine analysts, with six buy ratings and two strong buy ratings. The consensus 12-month price target is about $127.13.
• Recent earnings topped expectations: The company reported $1.01 EPS, beating the consensus estimate of $0.97, while revenue rose 11.4% year over year. Analysts expect RB Global to earn 4.16 EPS for the current fiscal year.
• The stock has supportive fundamentals and investor interest: RB Global pays a quarterly dividend of $0.31 per share, and institutional investors own most of the stock. A director also recently bought shares, signaling insider confidence.

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have been given an average rating of "Buy" by the nine research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $127.1250.

Several research firms recently issued reports on RBA. Royal Bank Of Canada increased their price target 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. BMO Capital Markets restated an "outperform" rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. National Bank Financial upped their target price on RB Global from $130.00 to $132.00 and gave the stock an "outperform" rating in a research note on Monday. Barclays assumed coverage on RB Global in a report on Thursday, May 28th. They issued an "overweight" rating and a $124.00 target price on the stock. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of RB Global in a research note on Tuesday, May 26th.

RB Global Stock Up 2.1%

RBA stock opened at $111.44 on Thursday. RB Global has a 52 week low of $93.58 and a 52 week high of $119.58. The business has a 50-day simple moving average of $107.68 and a 200 day simple moving average of $106.02. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The company has a market cap of $20.72 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 1.71 and a beta of 0.55.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.04. The firm had revenue of $888.01 million for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. Sell-side analysts anticipate that RB Global will post 4.16 EPS for the current fiscal year.

RB Global Dividend Announcement

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

Insider Transactions at RB Global

In other RB Global news, Director Deborah Stein bought 425 shares of the firm's stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 1.5% during 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of RB Global by 13.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 442,528 shares of the business services provider's stock worth $45,709,000 after purchasing an additional 50,830 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of RB Global by 20.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 173,358 shares of the business services provider's stock worth $17,833,000 after purchasing an additional 29,530 shares during the last quarter. Wilson Asset Management International PTY Ltd. grew its stake in shares of RB Global by 8.5% in the fourth quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider's stock worth $14,329,000 after purchasing an additional 10,951 shares during the last quarter. Finally, Tectonic Advisors LLC increased its holdings in RB Global by 78.3% in the fourth quarter. Tectonic Advisors LLC now owns 59,867 shares of the business services provider's stock valued at $6,159,000 after purchasing an additional 26,286 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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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