Stock Traders Buy Large Volume of Put Options on RB Global (NYSE:RBA)

RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA) was the target of some unusual options trading activity on Monday. Stock traders acquired 5,256 put options on the company. This represents an increase of 1,574% compared to the average volume of 314 put options.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RBA shares. Barclays reduced their target price on RB Global from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. National Bank Financial increased their price target on RB Global from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and set a $152.00 price objective on shares of RB Global in a research note on Wednesday, September 23rd. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.29.

Read Our Latest Stock Analysis on RB Global

RB Global Stock Performance

NYSE RBA traded down $5.69 during mid-day trading on Monday, reaching $78.61. 1,473,757 shares of the stock were exchanged, compared to its average volume of 1,461,748. The business’s 50 day moving average is $84.34 and its 200-day moving average is $98.72. RB Global has a 1 year low of $78.05 and a 1 year high of $119.33. The company has a market capitalization of $14.25 billion, a P/E ratio of 33.79, a P/E/G ratio of 1.44 and a beta of 0.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities research analysts forecast that RB Global will post 4.06 EPS for the current fiscal year.

RB Global Increases Dividend

The firm also recently declared 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 was Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. This is a boost from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is presently 56.65%.

Insider Activity at RB Global

In other news, Director Deborah Stein bought 500 shares of the stock in a transaction on Wednesday, September 9th. The stock was bought at an average cost of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the purchase, the director directly owned 2,325 shares in the company, valued at approximately $188,115.75. The trade was a 27.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chloe Harford purchased 1,200 shares of RB Global stock in a transaction dated Monday, August 24th. The shares were acquired at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the transaction, the director owned 1,200 shares of the company’s stock, valued at approximately $100,488. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On RB Global

A number of large investors have recently bought and sold shares of the business. Addison Advisors LLC acquired a new position in shares of RB Global during the 2nd quarter worth about $26,000. MV Capital Management Inc. acquired a new stake in RB Global in the 4th quarter worth about $29,000. J.Safra Asset Management Corp acquired a new stake in RB Global in the 2nd quarter worth about $32,000. Bayban acquired a new stake in RB Global in the 4th quarter worth about $34,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in RB Global during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

About RB Global

(Get Free Report)

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.

Further Reading

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