RB Global, Inc. (NYSE:RBA) Receives $84.14 Average PT from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $84.14.

RBA has been the subject of a number of analyst reports. Bank of America raised their price target on shares of RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. CIBC initiated coverage on shares of RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price target for the company. Finally, Scotiabank raised their price target on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th.

Insider Transactions at RB Global

In other news, CRO James J. Jeter sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the sale, the executive now owns 28,267 shares of the company’s stock, valued at $2,132,179.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Darren Jeffrey Watt sold 3,637 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $80.66, for a total value of $293,360.42. Following the completion of the sale, the insider now owns 17,279 shares of the company’s stock, valued at $1,393,724.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO James J. Jeter sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the sale, the executive now directly owns 28,267 shares of the company’s stock, valued at approximately $2,132,179.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,867 shares of company stock valued at $3,370,272. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of RB Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of RB Global in the third quarter valued at approximately $26,000. YHB Investment Advisors Inc. acquired a new stake in RB Global during the 1st quarter worth $27,000. Oakworth Capital Inc. grew its holdings in RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after acquiring an additional 162 shares during the period. Hollencrest Capital Management acquired a new stake in RB Global during the 1st quarter worth $33,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in RB Global by 58.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 0.9 %

NYSE RBA opened at $76.43 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.29. The firm has a 50-day simple moving average of $75.41 and a 200 day simple moving average of $72.00. RB Global has a twelve month low of $55.54 and a twelve month high of $81.74. The stock has a market cap of $13.97 billion, a PE ratio of 46.04, a PEG ratio of 5.22 and a beta of 0.91.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.15. RB Global had a net margin of 8.08% and a return on equity of 6.87%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts forecast that RB Global will post 2.04 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, May 29th. RB Global’s payout ratio is 65.06%.

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.