RB Global (NYSE:RBA) Rating Increased to Hold at Stephens

Stephens upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) to a hold rating in a research note released on Thursday morning,Zacks.com reports.

Several other research firms have also recently issued reports on RBA. BMO Capital Markets increased their target price on RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Weiss Ratings raised RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on shares of RB Global from $137.00 to $146.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Finally, Raymond James Financial lifted their price objective on shares of RB Global from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.13.

RB Global Stock Up 1.0%

Shares of RBA stock opened at $104.37 on Thursday. The company has a market capitalization of $19.40 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 1.57 and a beta of 0.57. RB Global has a one year low of $93.58 and a one year high of $119.58. The company’s fifty day moving average price is $101.29 and its 200-day moving average price is $103.52. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.02.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, February 17th. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.12. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. RB Global had a net margin of 9.33% and a return on equity of 11.12%. RB Global’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. Sell-side analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, February 9th. RB Global’s payout ratio is currently 60.78%.

Insider Buying and Selling

In other news, Director Deborah Stein acquired 400 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $98.74 per share, with a total value of $39,496.00. Following the acquisition, the director directly owned 1,400 shares of the company’s stock, valued at approximately $138,236. The trade was a 40.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 20,742 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $115.00, for a total value of $2,385,330.00. Following the transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. This represents a 16.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RB Global

Several institutional investors have recently bought and sold shares of the business. MV Capital Management Inc. bought a new stake in shares of RB Global in the 4th quarter worth about $29,000. Bayban bought a new position in shares of RB Global in the 4th quarter valued at about $34,000. Central Pacific Bank Trust Division grew its position 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 worth $37,000 after acquiring an additional 107 shares in the last quarter. Spire Wealth Management grew its position in RB Global by 1,090.6% in the third quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after acquiring an additional 349 shares in the last quarter. Finally, State of Wyoming bought a new stake in RB Global during the second quarter worth approximately $46,000. Institutional investors 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.