RB Global’s (RBA) Equal Weight Rating Reiterated at Stephens

Stephens reaffirmed their equal weight rating on shares of RB Global (NYSE:RBA) (TSE:RBA) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $96.00 price objective on the business services provider’s stock.

A number of other brokerages have also recently issued reports on RBA. Raymond James Financial lifted their target price on RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. BMO Capital Markets restated an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a report on Tuesday. Weiss Ratings upgraded RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Finally, Royal Bank Of Canada lifted their target price on RB Global from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.43.

RB Global Stock Performance

Shares of NYSE RBA opened at $103.45 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $19.23 billion, a price-to-earnings ratio of 48.12, a PEG ratio of 1.71 and a beta of 0.57. The stock’s fifty day simple moving average is $101.15 and its 200 day simple moving average is $103.49. RB Global has a 52-week low of $93.58 and a 52-week high of $119.58.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Monday, May 4th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. As a group, sell-side analysts forecast that RB Global will post 4.04 earnings per share for the current fiscal year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. RB Global’s payout ratio is currently 57.67%.

Insider Buying and Selling

In other news, Director Deborah Stein bought 400 shares of the stock in a transaction on Wednesday, March 18th. The shares were purchased at an average price of $98.74 per share, for a total transaction of $39,496.00. Following the completion of the purchase, the director directly owned 1,400 shares of the company’s stock, valued at $138,236. This trade represents a 40.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RBA. MV Capital Management Inc. purchased a new position in RB Global in the fourth quarter valued at about $29,000. Bayban purchased a new position in RB Global in the fourth quarter valued at about $34,000. Central Pacific Bank Trust Division grew its stake 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 valued at $37,000 after purchasing an additional 107 shares in the last quarter. Spire Wealth Management grew its stake 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 valued at $41,000 after purchasing an additional 349 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in RB Global in the first quarter valued at about $43,000. 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.