RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA) shares were down 5.6% on Monday. The company traded as low as $80.64 and last traded at $79.6020. Approximately 236,507 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,455,745 shares. The stock had previously closed at $84.30.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Barclays reduced their target price on shares of RB Global from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Zacks Research downgraded shares of RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Royal Bank Of Canada restated an “outperform” rating and set a $152.00 price target on shares of RB Global in a research report on Wednesday, September 23rd. Finally, Weiss Ratings cut RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $126.29.
Check Out Our Latest Analysis on RB Global
RB Global Stock Down 5.0%
The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $84.34 and a 200 day simple moving average of $98.72. The firm has a market capitalization of $14.52 billion, a PE ratio of 34.42, a PEG ratio of 1.44 and a beta of 0.53.
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. As a group, sell-side analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current year.
RB Global Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Tuesday, August 25th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. RB Global’s payout ratio is presently 56.65%.
Insiders Place Their Bets
In other news, Director Chloe Harford purchased 1,200 shares of the business’s stock in a transaction on Monday, August 24th. The shares were acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the acquisition, the director directly owned 1,200 shares in the company, valued at approximately $100,488. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Deborah Stein acquired 500 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was purchased at an average price of $80.91 per share, for a total transaction of $40,455.00. Following the transaction, the director directly owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.57% of the company’s stock.
Institutional Trading of RB Global
Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in RB Global during the 2nd quarter valued at about $1,816,059,000. Jupiter Topco LLC purchased a new stake in RB Global in the 2nd quarter worth approximately $514,871,000. Lazard Asset Management LLC bought a new stake in shares of RB Global in the 1st quarter worth approximately $210,091,000. Wellington Management Group LLP bought a new stake in shares of RB Global in the 2nd quarter worth approximately $201,813,000. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of RB Global in the 2nd quarter worth approximately $183,651,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
About RB Global
RB Global, Inc is a global marketplace and provider of asset management and disposition services for commercial and industrial equipment, vehicles and other durable assets. The company connects buyers and sellers through live and online auctions, negotiated sales and digital marketplaces, serving industries such as construction, transportation, agriculture, energy, government and automotive.
Its portfolio includes Ritchie Bros., a major auction and marketplace brand for heavy equipment; IAA, which specializes in salvage and repairable vehicle auctions; and Mascus, an online marketplace for used equipment.
Featured Stories
- Five stocks we like better than RB Global
- Rate-Resilient vs. Rate-Exposed: Why Homebuilder Stocks Are Diverging
- The AI Trade Just Moved Into Your Bloodstream, and 4 Healthcare Stocks Are Winning
- 5 Beaten-Down AI Names That Could Bounce If Fear Fades
- Could AI Finally Unlock Apple’s Next Leg of Growth?
Receive News & Ratings for RB Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RB Global and related companies with MarketBeat.com's FREE daily email newsletter.
