RB Global (NYSE:RBA) Hits New 12-Month High – Still a Buy?

Shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) reached a new 52-week high on Thursday . The stock traded as high as $95.19 and last traded at $95.15, with a volume of 143913 shares trading hands. The stock had previously closed at $93.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RBA shares. Robert W. Baird lifted their target price on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Bank of America boosted their price target on RB Global from $79.00 to $92.50 and gave the company a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada increased their price objective on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Raymond James raised their target price on shares of RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.36.

RB Global Price Performance

The stock has a market capitalization of $17.58 billion, a P/E ratio of 51.91, a PEG ratio of 4.50 and a beta of 0.92. The company has a 50 day moving average of $85.09 and a 200-day moving average of $80.88. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.22%. RB Global’s dividend payout ratio (DPR) is 63.04%.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 17,883 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $84.19, for a total transaction of $1,505,569.77. Following the sale, the chief executive officer now owns 86,247 shares in the company, valued at approximately $7,261,134.93. This represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the sale, the executive now owns 20,267 shares in the company, valued at $1,733,841.85. This represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,766 shares of company stock worth $3,248,118. 4.32% of the stock is owned by insiders.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently bought and sold shares of RBA. Weil Company Inc. increased its holdings in shares of RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock valued at $912,000 after acquiring an additional 132 shares in the last quarter. Advisor OS LLC lifted its position in shares of RB Global by 1.9% during the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider’s stock valued at $638,000 after purchasing an additional 156 shares in the last quarter. Blue Trust Inc. increased its stake in RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock valued at $113,000 after buying an additional 157 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 165 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of RB Global by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 210 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

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.