RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA) has received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $126.1250.
Several equities analysts have weighed in on RBA shares. Stephens reissued an “equal weight” rating and issued a $96.00 target price on shares of RB Global in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Royal Bank Of Canada raised their price target on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Barclays assumed coverage on RB Global in a research report on Thursday, May 28th. They set an “overweight” rating and a $124.00 price target on the stock.
View Our Latest Stock Analysis on RBA
RB Global Trading Up 2.5%
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last released its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that RB Global will post 4.09 earnings per share for the current year.
RB Global Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. RB Global’s dividend payout ratio (DPR) is currently 57.67%.
Insider Activity at RB Global
In other news, Director Deborah Stein bought 425 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the transaction, the director owned 1,825 shares in the company, valued at $188,248.75. This represents a 30.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On RB Global
A number of hedge funds and other institutional investors have recently bought and sold shares of RBA. T. Rowe Price Investment Management Inc. raised its position in RB Global by 6,120,490.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,448,236 shares of the business services provider’s stock valued at $251,851,000 after buying an additional 2,448,196 shares during the last quarter. Norges Bank acquired a new stake in RB Global in the 4th quarter valued at approximately $231,813,000. Lazard Asset Management LLC acquired a new stake in RB Global in the 1st quarter valued at approximately $210,091,000. EdgePoint Investment Group Inc. grew its stake in RB Global by 14.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock valued at $845,337,000 after purchasing an additional 1,111,217 shares in the last quarter. Finally, Kensico Capital Management Corp grew its stake in RB Global by 152.0% in the third quarter. Kensico Capital Management Corp now owns 1,044,000 shares of the business services provider’s stock valued at $113,128,000 after purchasing an additional 629,700 shares in 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.
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