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

Key Points

• Analysts maintain a bullish view: RB Global has a consensus “Buy” rating from 10 analysts, including seven buys and two strong buys. The average 12-month price target is $128, with Raymond James setting a $145 target.
• Recent results exceeded expectations: The company reported quarterly earnings of $1.13 per share versus the $1.09 consensus estimate, while revenue reached $1.66 billion against expectations of $1.21 billion.
• Dividend increased: RB Global raised its quarterly dividend to $0.33 per share, equivalent to $1.32 annually and a 1.4% yield. Institutional investors own approximately 95.4% of the company’s stock.

Shares of RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA have earned an average recommendation of "Buy" from the ten analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $128.00.

RBA has been the subject of a number of research analyst reports. Weiss Ratings raised RB Global from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. Raymond James Financial raised RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 price objective on the stock in a research report on Tuesday, June 30th. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of RB Global in a research report on Wednesday. Finally, Zacks Research upgraded RB Global from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 3rd.

Insider Buying and Selling

In related news, Director Deborah Stein acquired 425 shares of the stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares in the company, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company's stock.

Institutional Trading of RB Global

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in RB Global by 9.2% during the first quarter. Public Employees Retirement System of Ohio now owns 207,778 shares of the business services provider's stock valued at $19,873,000 after buying an additional 17,489 shares during the period. Wilson Asset Management International PTY Ltd. increased its stake in RB Global by 8.5% in the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 139,295 shares of the business services provider's stock worth $14,329,000 after acquiring an additional 10,951 shares during the last quarter. Bank of America Corp DE increased its stake in RB Global by 7.8% in the 1st quarter. Bank of America Corp DE now owns 1,452,438 shares of the business services provider's stock worth $139,216,000 after acquiring an additional 104,560 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of RB Global by 20.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 173,358 shares of the business services provider's stock valued at $17,833,000 after acquiring an additional 29,530 shares in the last quarter. Finally, Tectonic Advisors LLC raised its holdings in shares of RB Global by 78.3% in the 4th quarter. Tectonic Advisors LLC now owns 59,867 shares of the business services provider's stock valued at $6,159,000 after acquiring an additional 26,286 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Trading Down 0.1%

Shares of RBA stock opened at $94.65 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 1.58 and a beta of 0.56. RB Global has a 52-week low of $92.15 and a 52-week high of $119.58. The company has a 50-day simple moving average of $109.42 and a two-hundred day simple moving average of $106.18.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.21 billion. Research analysts anticipate that RB Global will post 4.16 EPS for the current fiscal year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. This is a boost from RB Global's previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. RB Global's dividend payout ratio is 53.22%.

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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