RB Global, Inc. (NYSE:RBA) Given Average Rating of “Moderate Buy” by Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $107.64.

RBA has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Raymond James lifted their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. CIBC decreased their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Finally, Robert W. Baird lifted their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of RB Global during the 4th quarter valued at $266,148,000. Norges Bank bought a new stake in shares of RB Global during the 4th quarter valued at $209,931,000. FMR LLC boosted its holdings in shares of RB Global by 137.5% during the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock valued at $252,985,000 after buying an additional 1,623,429 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock valued at $65,014,000 after buying an additional 610,843 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Trading Up 1.7 %

RBA stock opened at $101.36 on Monday. The company has a market capitalization of $18.73 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. RB Global has a one year low of $69.83 and a one year high of $106.90. The company’s 50 day moving average price is $93.66 and its two-hundred day moving average price is $89.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business posted $0.82 earnings per share. As a group, analysts predict that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s payout ratio is currently 57.71%.

About RB Global

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.