RB Global (NYSE:RBA) Sets New 12-Month High at $81.44

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $81.44 and last traded at $81.25, with a volume of 447994 shares traded. The stock had previously closed at $80.42.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RBA. Raymond James boosted their price objective on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Royal Bank of Canada boosted their price target on RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. CIBC began coverage on RB Global in a research note on Tuesday. They issued a “sector outperform” rating on the stock. Bank of America increased their price target on shares of RB Global from $68.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Scotiabank increased their target price on RB Global from $88.00 to $89.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.33.

RB Global Stock Performance

The company has a market cap of $14.70 billion, a P/E ratio of 48.44, a P/E/G ratio of 5.47 and a beta of 0.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 1.17. The business has a 50-day moving average of $74.42 and a two-hundred day moving average of $70.94.

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

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, May 29th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. RB Global’s payout ratio is currently 65.06%.

Insider Activity at RB Global

In other news, insider Darren Jeffrey Watt sold 3,637 shares of RB Global stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $80.66, for a total transaction of $293,360.42. Following the transaction, the insider now owns 17,279 shares in the company, valued at approximately $1,393,724.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other RB Global news, insider Darren Jeffrey Watt sold 3,637 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $80.66, for a total transaction of $293,360.42. Following the transaction, the insider now directly owns 17,279 shares in the company, valued at $1,393,724.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO James J. Jeter sold 14,000 shares of RB Global stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the transaction, the executive now owns 28,267 shares of the company’s stock, valued at approximately $2,132,179.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,867 shares of company stock valued at $2,722,992. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On RB Global

Several large investors have recently modified their holdings of RBA. Cary Street Partners Investment Advisory LLC purchased a new position in RB Global during the third quarter worth about $26,000. YHB Investment Advisors Inc. acquired a new stake in shares of RB Global in the 1st quarter valued at approximately $27,000. Oakworth Capital Inc. boosted its stake in shares of RB Global by 53.3% in 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 in the last quarter. Hollencrest Capital Management acquired a new position in RB Global during the first quarter worth $33,000. Finally, GAMMA Investing LLC purchased a new position in RB Global in the fourth quarter worth $54,000. 95.37% of the stock is owned by institutional investors and hedge funds.

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.