Shares of RB Global, Inc. (NYSE:RBA – Get Free Report) (TSE:RBA) have received an average recommendation of “Buy” from the nine research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $127.5714.
A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Wall Street Zen cut RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Stephens reissued an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their price objective on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th.
Check Out Our Latest Stock Report on RBA
RB Global Trading Up 0.0%
RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last announced 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. The business had revenue of $888.01 million during the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. Analysts expect that RB Global will post 4.16 EPS for the current fiscal year.
RB Global Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. RB Global’s dividend payout ratio is 57.67%.
Insider Buying and Selling at RB Global
In related news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the purchase, the director owned 1,825 shares in the company, valued at approximately $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 the SEC website. Insiders own 0.57% of the company’s stock.
Institutional Investors Weigh In On RB Global
A number of institutional investors have recently modified their holdings of the stock. Personal CFO Solutions LLC grew its position in shares of RB Global by 0.9% during the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock valued at $1,073,000 after buying an additional 96 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after acquiring an additional 97 shares during the last quarter. Covestor Ltd boosted its stake in RB Global by 11.6% in the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 97 shares during the period. Coldstream Capital Management Inc. boosted its stake in RB Global by 5.4% in the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 105 shares during the period. Finally, Central Pacific Bank Trust Division boosted its stake in RB Global by 41.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 107 shares during the period. 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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