RB Global, Inc. (NYSE:RBA) Receives $92.19 Average PT from Analysts

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $92.19.

Several equities analysts have weighed in on the company. BMO Capital Markets assumed coverage on RB Global in a report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target for the company. Robert W. Baird raised their target price on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. CIBC began coverage on shares of RB Global in a research report on Tuesday, June 18th. They issued a “sector outperform” rating and a $95.00 price target on the stock. Bank of America increased their price objective on shares of RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Raymond James boosted their target price on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th.

Insider Activity

In related news, CEO James Francis Kessler sold 8,000 shares of RB Global stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total transaction of $647,280.00. Following the completion of the transaction, the chief executive officer now directly owns 78,104 shares of the company’s stock, valued at approximately $6,319,394.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $82.80, for a total value of $241,362.00. Following the sale, the insider now owns 19,271 shares in the company, valued at $1,595,638.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 8,000 shares of RB Global stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the sale, the chief executive officer now owns 78,104 shares of the company’s stock, valued at $6,319,394.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,718 shares of company stock valued at $2,861,754. 4.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in RB Global by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 23,992,759 shares of the business services provider’s stock worth $1,827,528,000 after acquiring an additional 1,153,497 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of RB Global by 1.4% in the first quarter. EdgePoint Investment Group Inc. now owns 8,564,254 shares of the business services provider’s stock valued at $652,590,000 after purchasing an additional 114,225 shares during the period. Vontobel Asset Management Inc. grew its stake in RB Global by 66.5% in the fourth quarter. Vontobel Asset Management Inc. now owns 6,649,251 shares of the business services provider’s stock worth $467,920,000 after purchasing an additional 2,655,388 shares in the last quarter. Cooke & Bieler LP increased its holdings in RB Global by 3.4% during the 2nd quarter. Cooke & Bieler LP now owns 3,311,490 shares of the business services provider’s stock worth $252,865,000 after purchasing an additional 109,056 shares during the period. Finally, Fiera Capital Corp raised its position in RB Global by 5.7% during the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after purchasing an additional 168,945 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RB Global Price Performance

Shares of NYSE:RBA opened at $84.63 on Monday. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 51.01, a P/E/G ratio of 5.28 and a beta of 0.93. The firm has a fifty day moving average price of $80.71 and a 200 day moving average price of $77.24. RB Global has a fifty-two week low of $58.85 and a fifty-two week high of $87.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. RB Global had a net margin of 8.67% and a return on equity of 7.27%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts expect that RB Global will post 1.96 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be given a dividend of $0.29 per share. This is a boost from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 1.37%. RB Global’s payout ratio is 69.88%.

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.