RB Global (NYSE:RBA) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of RB Global (NYSE:RBA - Free Report) TSE: RBA from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other brokerages have also recently issued reports on RBA. Raymond James raised their price objective on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. BMO Capital Markets increased their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. CIBC reduced their price objective on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada increased their target price on RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $107.64.

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RB Global Price Performance

Shares of RBA stock traded up $0.27 during trading hours on Tuesday, reaching $99.14. The stock had a trading volume of 2,341,044 shares, compared to its average volume of 1,020,636. The stock's fifty day simple moving average is $95.35 and its 200 day simple moving average is $90.87. The firm has a market capitalization of $18.32 billion, a PE ratio of 49.33, a PEG ratio of 4.95 and a beta of 0.94. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global has a 12 month low of $69.83 and a 12 month high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $0.82 earnings per share. On average, equities research analysts predict that RB Global will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, February 14th. RB Global's payout ratio is 57.71%.

Insider Transactions at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares in the company, valued at $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO James J. Jeter sold 7,597 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the transaction, the executive now owns 20,267 shares in the company, valued at approximately $1,983,125.95. This trade represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.32% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RBA. CoreCap Advisors LLC lifted its holdings in RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc lifted its holdings in shares of RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after buying an additional 176 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after acquiring an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of RB Global during the fourth quarter valued at about $36,000. 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.