RB Global (NYSE:RBA) Hits New 1-Year High – Should You Buy?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $111.07 and last traded at $110.46, with a volume of 313819 shares. The stock had previously closed at $108.16.

Analyst Ratings Changes

RBA has been the topic of several recent analyst reports. Raymond James Financial increased their target price on shares of RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. National Bankshares decreased their price target on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Wall Street Zen lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Royal Bank Of Canada set a $125.00 price target on shares of RB Global and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, Robert W. Baird increased their price target on shares of RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.79.

RB Global Stock Performance

The business’s fifty day simple moving average is $105.72 and its 200-day simple moving average is $99.09. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.50. The firm has a market cap of $20.32 billion, a P/E ratio of 54.06, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. RB Global had a return on equity of 8.03% and a net margin of 9.68%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that RB Global, Inc. will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.06%. RB Global’s dividend payout ratio (DPR) is 57.14%.

Insider Buying and Selling at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 3,700 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total transaction of $392,829.00. Following the completion of the sale, the insider directly owned 24,874 shares in the company, valued at approximately $2,640,872.58. This trade represents a 12.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adam Dewitt sold 800 shares of RB Global stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total transaction of $84,936.00. Following the completion of the sale, the director owned 5,865 shares of the company’s stock, valued at $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,075 shares of company stock valued at $2,007,349 in the last quarter. 4.32% of the stock is owned by insiders.

Hedge Funds Weigh In On RB Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of RB Global in the fourth quarter worth $209,931,000. FMR LLC grew its holdings in shares of RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock worth $252,985,000 after purchasing an additional 1,623,429 shares during the last quarter. Samlyn Capital LLC purchased a new stake in RB Global in the first quarter worth about $118,821,000. Third Point LLC purchased a new stake in shares of RB Global during the first quarter valued at about $95,285,000. Finally, Fiera Capital Corp boosted its stake in RB Global by 17.3% in the 1st quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider’s stock worth $379,150,000 after purchasing an additional 557,407 shares in the last quarter. Hedge funds and other 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.