RB Global (NYSE:RBA) Upgraded by StockNews.com to Buy Rating

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

Other analysts also recently issued reports about the stock. CIBC increased their price target on shares of RB Global from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Friday, May 9th. National Bankshares cut their price target on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Raymond James increased their price target on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. BMO Capital Markets increased their price target on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird increased their price target on shares of RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.50.

RB Global Stock Up 0.3%

Shares of NYSE RBA opened at $108.99 on Tuesday. The firm’s 50-day simple moving average is $99.46 and its 200 day simple moving average is $95.89. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 54.22, a price-to-earnings-growth 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. RB Global has a 12-month low of $70.27 and a 12-month high of $109.11.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The business 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 company earned $0.90 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts expect that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, May 29th. RB Global’s dividend payout ratio (DPR) is currently 57.14%.

Insider Transactions at RB Global

In other news, insider Andrew John Fesler sold 9,075 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider now owns 5,532 shares in the company, valued at $579,311.04. The trade was a 62.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This represents a 27.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,472 shares of company stock worth $3,867,745. Insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On RB Global

Institutional investors have recently bought and sold shares of the stock. CoreCap Advisors LLC grew its stake in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the period. SouthState Corp bought a new position in RB Global in the 1st quarter valued at $26,000. MV Capital Management Inc. grew its stake in RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 278 shares during the period. SVB Wealth LLC purchased a new position in shares of RB Global during the 1st quarter valued at $28,000. Finally, Jones Financial Companies Lllp lifted its position in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after buying an additional 129 shares during 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.