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 released on Saturday.

A number of other analysts also recently issued reports on RBA. BMO Capital Markets raised their price objective on shares of RB Global from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. National Bankshares reduced their target price on shares of RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research note on Thursday, October 9th. Royal Bank Of Canada lifted their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, CIBC lifted their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an “outperformer” rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

RB Global Stock Performance

NYSE RBA opened at $101.51 on Friday. RB Global has a 52-week low of $84.31 and a 52-week high of $119.58. The company has a 50-day simple moving average of $110.57 and a 200 day simple moving average of $107.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28. The company has a market capitalization of $18.85 billion, a PE ratio of 50.25, a price-to-earnings-growth ratio of 2.37 and a beta of 0.65.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company posted $0.94 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that RB Global will post 2.5 EPS for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 28th were paid a dividend of $0.31 per share. This is an increase from RB Global’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 28th. RB Global’s dividend payout ratio is presently 61.39%.

Insider Buying and Selling

In related news, insider Michael Thomas Steven Lewis sold 2,151 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently bought and sold shares of the company. MJP Associates Inc. ADV grew its stake in RB Global by 2.2% during the second quarter. MJP Associates Inc. ADV now owns 4,434 shares of the business services provider’s stock valued at $471,000 after acquiring an additional 95 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Securian Asset Management Inc. lifted its position in RB Global by 0.7% during the first quarter. Securian Asset Management Inc. now owns 14,041 shares of the business services provider’s stock valued at $1,408,000 after purchasing an additional 100 shares during the last quarter. Archer Investment Corp lifted its position in RB Global by 6.0% during the second quarter. Archer Investment Corp now owns 1,760 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 100 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in RB Global by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,060 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other 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.