RB Global (NYSE:RBA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RB Global (NYSE:RBA - Free Report) TSE: RBA from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities analysts also recently weighed in on the company. CIBC upped their price target on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. National Bankshares cut their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Robert W. Baird lifted their price target on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Raymond James Financial boosted their price target on shares of RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, RB Global presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

RB Global Stock Up 1.4%

NYSE RBA traded up $1.45 during trading hours on Friday, reaching $105.74. 1,145,562 shares of the company's stock were exchanged, compared to its average volume of 980,123. The company's 50-day moving average is $103.64 and its two-hundred day moving average is $97.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31. RB Global has a one year low of $70.38 and a one year high of $109.25. The company has a market capitalization of $19.58 billion, a price-to-earnings ratio of 52.09 and a beta of 0.78.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts' consensus estimates of $0.89. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $0.90 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts forecast that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were issued a $0.29 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.10%. RB Global's payout ratio is 57.14%.

Insider Buying and Selling

In other RB Global news, CRO James J. Jeter sold 2,000 shares of RB Global stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the sale, the executive now owns 14,167 shares in the company, valued at $1,515,302.32. The trade was a 12.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 3,700 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $392,829.00. Following the transaction, the insider now directly owns 24,874 shares in the company, valued at $2,640,872.58. This represents a 12.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,075 shares of company stock worth $2,007,349. Company insiders own 0.28% of the company's stock.

Institutional Investors Weigh In On RB Global

Institutional investors have recently made changes to their positions in the stock. SouthState Corp acquired a new stake in shares of RB Global in the 1st quarter valued at $26,000. CoreCap Advisors LLC grew its position in RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after acquiring an additional 117 shares during the last quarter. SVB Wealth LLC bought a new position in RB Global in the first quarter valued at about $28,000. MV Capital Management Inc. raised 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 acquiring an additional 278 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of RB Global by 348.8% in the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after acquiring an additional 279 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

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.