RB Global (NYSE:RBA) Receives New Coverage from Analysts at CIBC

CIBC assumed coverage on shares of RB Global (NYSE:RBA) (TSE:RBA) in a report released on Tuesday, Marketbeat reports. The firm issued a sector outperform rating and a $95.00 price objective on the business services provider’s stock.

Several other brokerages have also recently weighed in on RBA. Bank of America raised their price target on shares of RB Global from $68.00 to $79.00 and gave the company a neutral rating in a research report on Tuesday, May 28th. Scotiabank raised their price target on shares of RB Global from $88.00 to $89.00 and gave the company a sector outperform rating in a research report on Wednesday, April 24th. Royal Bank of Canada raised their price target on shares of RB Global from $75.00 to $93.00 and gave the company an outperform rating in a research report on Monday, February 26th. Finally, Raymond James raised their price target on shares of RB Global from $78.00 to $90.00 and gave the company an outperform rating in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $84.14.

RB Global Stock Performance

NYSE RBA opened at $80.03 on Tuesday. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 5.47 and a beta of 0.88. RB Global has a twelve month low of $55.09 and a twelve month high of $81.74. The stock has a fifty day simple moving average of $74.53 and a 200 day simple moving average of $71.04. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.58.

RB Global (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. RB Global had a return on equity of 6.87% and a net margin of 8.08%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Sell-side analysts expect that RB Global will post 2.04 EPS for the current year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, May 29th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.35%. The ex-dividend date is Wednesday, May 29th. RB Global’s dividend payout ratio is presently 65.06%.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 14,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total value of $1,056,020.00. Following the completion of the sale, the executive now directly owns 28,267 shares of the company’s stock, valued at $2,132,179.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RB Global news, CRO James J. Jeter sold 14,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total value of $1,056,020.00. Following the transaction, the executive now owns 28,267 shares in the company, valued at $2,132,179.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Francis Kessler sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $80.91, for a total transaction of $647,280.00. Following the completion of the transaction, the chief executive officer now owns 78,104 shares in the company, valued at approximately $6,319,394.64. The disclosure for this sale can be found here. Insiders sold 43,867 shares of company stock valued at $3,370,272 over the last three months. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On RB Global

A number of hedge funds have recently modified their holdings of the company. Oakworth Capital Inc. increased its position in shares of RB Global by 53.3% during the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after buying an additional 162 shares during the period. Signaturefd LLC increased its position in shares of RB Global by 11.0% during the fourth quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after buying an additional 190 shares during the period. Ascent Group LLC increased its position in shares of RB Global by 2.4% during the first quarter. Ascent Group LLC now owns 9,415 shares of the business services provider’s stock valued at $717,000 after buying an additional 225 shares during the period. Atria Wealth Solutions Inc. increased its position in shares of RB Global by 4.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,386 shares of the business services provider’s stock valued at $360,000 after buying an additional 250 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of RB Global by 5.6% during the first quarter. Yousif Capital Management LLC now owns 5,221 shares of the business services provider’s stock valued at $398,000 after buying an additional 278 shares during the period. 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.