RB Global (NYSE:RBA) Research Coverage Started at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of RB Global (NYSE:RBA) (TSE:RBA) in a research report released on Thursday morning, Marketbeat.com reports. The firm issued an outperform rating and a $105.00 price objective on the business services provider’s stock.

A number of other brokerages have also recently weighed in on RBA. CIBC began coverage on shares of RB Global in a report on Tuesday, June 18th. They issued a sector outperform rating and a $95.00 price objective on the stock. Royal Bank of Canada increased their price target on shares of RB Global from $93.00 to $99.00 and gave the company an outperform rating in a report on Wednesday, August 7th. Raymond James increased their price target on shares of RB Global from $95.00 to $98.00 and gave the company an outperform rating in a report on Thursday, August 8th. Bank of America increased their price target on shares of RB Global from $79.00 to $92.50 and gave the company a neutral rating in a report on Monday, August 26th. Finally, Robert W. Baird increased their price target on shares of RB Global from $80.00 to $86.00 and gave the company an outperform rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $92.19.

RB Global Price Performance

Shares of RBA opened at $82.66 on Thursday. The stock has a market cap of $15.11 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 5.50 and a beta of 0.93. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. RB Global has a fifty-two week low of $58.85 and a fifty-two week high of $87.45. The firm’s 50-day simple moving average is $80.40 and its two-hundred day simple moving average is $77.00.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. Analysts anticipate that RB Global will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $1.16 annualized dividend and a yield of 1.40%. This is a boost from RB Global’s previous quarterly dividend of $0.27. RB Global’s dividend payout ratio (DPR) is currently 69.88%.

Insider Buying and Selling

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 sale, the insider now owns 17,279 shares in the company, valued at $1,393,724.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 3,637 shares of the 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 transaction, the insider now directly owns 17,279 shares in the company, valued at $1,393,724.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total transaction of $647,280.00. Following the completion of the transaction, the chief executive officer now owns 78,104 shares in the company, valued at $6,319,394.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,472 shares of company stock worth $1,669,216. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RBA. YHB Investment Advisors Inc. bought a new position in RB Global in the first quarter worth approximately $27,000. Hollencrest Capital Management bought a new stake in shares of RB Global during the 1st quarter valued at $33,000. Massmutual Trust Co. FSB ADV raised its position in shares of 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 valued at $34,000 after purchasing an additional 165 shares during the period. Quarry LP bought a new stake in shares of RB Global during the 2nd quarter valued at $53,000. Finally, Nisa Investment Advisors LLC raised its position in shares of RB Global by 33.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 210 shares during the period. 95.37% of the stock is currently owned by institutional investors.

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.