RB Global’s (RBA) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of RB Global (NYSE:RBA) (TSE:RBA) in a research note released on Wednesday,Benzinga reports. The brokerage currently has a $152.00 target price on the business services provider’s stock.

A number of other equities research analysts have also issued reports on RBA. Zacks Research lowered RB Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a report on Wednesday, August 5th. Barclays reduced their target price on RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.57.

RB Global Stock Performance

NYSE:RBA opened at $82.59 on Wednesday. RB Global has a 1-year low of $79.75 and a 1-year high of $119.33. The firm’s fifty day moving average price is $91.75 and its 200 day moving average price is $100.24. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, sell-side analysts expect that RB Global will post 4.06 EPS for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th were issued a $0.33 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is presently 56.65%.

Insider Transactions at RB Global

In other RB Global news, Director Chloe Harford purchased 1,200 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the purchase, the director owned 1,200 shares in the company, valued at $100,488. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah Stein purchased 500 shares of RB Global stock in a transaction that occurred on Wednesday, September 9th. The stock was acquired at an average cost of $80.91 per share, with a total value of $40,455.00. Following the acquisition, the director directly owned 2,325 shares of the company’s stock, valued at $188,115.75. The trade was a 27.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. lifted its position in shares of RB Global by 8.7% in the 2nd quarter. QRG Capital Management Inc. now owns 10,813 shares of the business services provider’s stock worth $1,259,000 after buying an additional 865 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of RB Global by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,516 shares of the business services provider’s stock valued at $526,000 after buying an additional 175 shares during the period. WINTON GROUP Ltd grew its position in shares of RB Global by 377.9% during the 2nd quarter. WINTON GROUP Ltd now owns 19,800 shares of the business services provider’s stock valued at $2,306,000 after buying an additional 15,657 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of RB Global during the 2nd quarter valued at about $35,000. Finally, NewEdge Advisors LLC grew its position in shares of RB Global by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 5,763 shares of the business services provider’s stock valued at $671,000 after buying an additional 332 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

About RB Global

RB Global, Inc (NYSE: RBA) operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.