RB Global, Inc. (NYSE:RBA) Receives Consensus Rating of “Moderate Buy” from Analysts

RB Global, Inc. (NYSE:RBA) (TSE:RBA) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $100.36.

A number of research analysts have recently issued reports on RBA shares. CIBC boosted their price target on shares of RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research note on Thursday, December 12th. BMO Capital Markets increased their target price on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Bank of America upped their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Robert W. Baird raised their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th.

RB Global Stock Performance

NYSE:RBA opened at $90.51 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 4.56 and a beta of 0.95. The firm’s fifty day moving average price is $91.13 and its 200 day moving average price is $84.27. RB Global has a 1-year low of $60.84 and a 1-year high of $99.79.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, November 27th. RB Global’s dividend payout ratio is currently 63.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RBA. Arlington Partners LLC raised its position in RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after acquiring an additional 8,961 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after purchasing an additional 20,795 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in RB Global by 132.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 28,300 shares of the business services provider’s stock valued at $2,158,000 after buying an additional 16,100 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in RB Global by 16.1% during the 3rd quarter. Forsta AP Fonden now owns 43,300 shares of the business services provider’s stock valued at $3,489,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds 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.