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

Wall Street Zen upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other analysts also recently commented on RBA. Robert W. Baird upped their target price on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. CIBC increased 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 Bank Financial downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 25th. Raymond James Financial increased their price target on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, National Bankshares lowered their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.50.

RB Global Stock Down 0.4%

Shares of RBA opened at $104.36 on Friday. RB Global has a 52 week low of $70.38 and a 52 week high of $109.25. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of 51.41 and a beta of 0.78. The stock’s 50-day moving average price is $103.64 and its 200-day moving average price is $97.84.

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

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. RB Global’s payout ratio is currently 57.14%.

Insider Buying and Selling at RB Global

In related news, Director Adam Dewitt sold 800 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the sale, the director now owns 5,865 shares of the company’s stock, valued at approximately $622,687.05. This trade represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James J. Jeter sold 3,500 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $104.38, for a total value of $365,330.00. Following the completion of the sale, the executive now directly owns 16,167 shares of the company’s stock, valued at approximately $1,687,511.46. This represents a 17.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,075 shares of company stock valued at $2,007,349 over the last quarter. 0.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RB Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its stake in RB Global by 69.5% in the fourth quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 7,737 shares in the last quarter. QRG Capital Management Inc. lifted its stake in RB Global by 122.2% during the first quarter. QRG Capital Management Inc. now owns 7,678 shares of the business services provider’s stock worth $770,000 after purchasing an additional 4,222 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in RB Global by 15.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 120,564 shares of the business services provider’s stock worth $10,876,000 after purchasing an additional 16,397 shares during the last quarter. Vanguard Group Inc. lifted its stake in RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in RB Global by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 103,934 shares of the business services provider’s stock worth $9,376,000 after purchasing an additional 8,723 shares during the last quarter. Institutional investors and hedge funds 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.