RB Global (NYSE:RBA) Upgraded at StockNews.com

StockNews.com upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a hold rating to a buy rating in a report published on Tuesday.

A number of other equities research analysts have also commented on the stock. Robert W. Baird upped their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. BMO Capital Markets lifted their target price on shares of RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Raymond James upped their price target 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. Royal Bank of Canada lifted their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, CIBC dropped their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, RB Global currently has an average rating of “Moderate Buy” and a consensus target price of $107.64.

RB Global Stock Down 0.5 %

RBA opened at $98.78 on Tuesday. RB Global has a 12 month low of $69.83 and a 12 month high of $106.90. The company has a market cap of $18.25 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $95.14 and a 200 day moving average of $90.73.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter in the prior year, the company earned $0.82 earnings per share. On average, sell-side analysts expect that RB Global will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.17%. RB Global’s dividend payout ratio is presently 57.71%.

Insider Activity at RB Global

In other news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the transaction, the executive now directly owns 20,267 shares in the company, valued at approximately $1,983,125.95. This represents a 27.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after acquiring an additional 358,752 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after buying an additional 753,700 shares during the period. State Street Corp grew its position in shares of RB Global by 2.1% during the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after buying an additional 103,080 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of RB Global by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after buying an additional 264,778 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of RB Global by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock valued at $307,033,000 after acquiring an additional 19,895 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.