RB Global (NYSE:RBA) Reaches New 12-Month High at $68.52

RB Global, Inc. (NYSE:RBAGet Free Report) (TSE:RBA)’s stock price hit a new 52-week high on Friday . The company traded as high as $68.52 and last traded at $68.40, with a volume of 82853 shares trading hands. The stock had previously closed at $67.97.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank increased their target price on RB Global from $74.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Tuesday, February 6th. StockNews.com raised RB Global from a “sell” rating to a “hold” rating in a research note on Friday. National Bankshares increased their target price on RB Global from $71.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Royal Bank of Canada cut their target price on RB Global from $75.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.83.

View Our Latest Stock Analysis on RBA

RB Global Stock Performance

The company has a market cap of $12.53 billion, a price-to-earnings ratio of 81.71, a price-to-earnings-growth ratio of 5.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.31 and a quick ratio of 1.18. The stock has a 50-day moving average price of $64.82 and a 200 day moving average price of $63.51.

RB Global (NYSE:RBAGet Free Report) (TSE:RBA) last released its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $939.92 million. RB Global had a return on equity of 4.19% and a net margin of 5.43%. As a group, analysts anticipate that RB Global, Inc. will post 0.94 EPS for the current fiscal year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.57%. RB Global’s payout ratio is presently 128.57%.

Insider Buying and Selling

In related news, insider Darren Jeffrey Watt sold 1,094 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $65.94, for a total transaction of $72,138.36. Following the completion of the transaction, the insider now directly owns 14,880 shares in the company, valued at $981,187.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Darren Jeffrey Watt sold 1,094 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $65.94, for a total transaction of $72,138.36. Following the completion of the transaction, the insider now directly owns 14,880 shares in the company, valued at $981,187.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO James J. Jeter sold 3,750 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $64.84, for a total value of $243,150.00. Following the transaction, the executive now owns 23,140 shares of the company’s stock, valued at $1,500,397.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 243,212 shares of company stock worth $15,139,394. 4.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC bought a new position in RB Global in the third quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in RB Global in the third quarter valued at approximately $26,000. Oakworth Capital Inc. grew its stake in 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 purchasing an additional 162 shares in the last quarter. Cornerstone Planning Group LLC bought a new position in RB Global in the second quarter valued at approximately $45,000. Finally, Quilter Plc bought a new position in shares of RB Global during the 1st quarter worth approximately $587,759,000. 90.24% of the stock is currently owned by institutional investors.

About RB Global

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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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.

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