RB Global (NYSE:RBA) Raised to Buy at StockNews.com

StockNews.com upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Several other equities research analysts have also recently weighed in on RBA. Royal Bank of Canada increased their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James increased their price objective on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. National Bankshares lowered their target price on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. CIBC raised their target price on RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. Finally, Robert W. Baird raised their target price on RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.50.

RB Global Price Performance

Shares of NYSE RBA opened at $108.99 on Tuesday. The firm has a market capitalization of $20.18 billion, a P/E ratio of 54.22, a P/E/G ratio of 4.95 and a beta of 0.78. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $99.46 and its two-hundred day simple moving average is $95.89. RB Global has a twelve month low of $70.27 and a twelve month high of $109.11.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company earned $0.90 EPS. The company’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts anticipate that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.06%. RB Global’s payout ratio is 57.14%.

Insider Activity

In related news, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. The trade was a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. The trade was a 27.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,472 shares of company stock worth $3,867,745 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RBA. CoreCap Advisors LLC grew its stake in shares of RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after buying an additional 117 shares during the last quarter. SouthState Corp bought a new position in RB Global in the first quarter worth approximately $26,000. MV Capital Management Inc. grew its stake in RB Global by 5,560.0% in 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 in the last quarter. SVB Wealth LLC bought a new position in RB Global in the first quarter worth approximately $28,000. Finally, Jones Financial Companies Lllp grew its stake in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

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.