RB Global (NYSE:RBA) Lowered to Hold Rating by StockNews.com

RB Global (NYSE:RBA) (TSE:RBA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other research analysts have also recently commented on the company. BMO Capital Markets increased their price target on RB Global from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. CIBC cut their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Raymond James upped 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. Royal Bank of Canada raised their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird upped their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Price Performance

Shares of RBA stock opened at $100.40 on Wednesday. The business has a fifty day simple moving average of $96.21 and a 200 day simple moving average of $91.28. The company has a market cap of $18.55 billion, a P/E ratio of 49.95, a P/E/G ratio of 4.95 and a beta of 0.94. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. RB Global has a twelve month low of $69.83 and a twelve month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, sell-side analysts forecast that RB Global will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 600 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the transaction, the executive now directly owns 19,667 shares of the company’s stock, valued at $1,939,756.21. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,897 shares of company stock worth $2,338,161. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of RB Global by 18.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider’s stock worth $441,000 after acquiring an additional 752 shares in the last quarter. Members Wealth LLC bought a new position in shares of RB Global during the fourth quarter valued at about $2,738,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in RB Global in the 4th quarter worth about $3,590,000. Ascent Group LLC increased its stake in RB Global by 2.7% in the 4th quarter. Ascent Group LLC now owns 11,285 shares of the business services provider’s stock valued at $1,018,000 after buying an additional 295 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. bought a new position in shares of RB Global during the 4th quarter worth approximately $209,000. 95.37% of the stock is currently 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.