RB Global (NYSE:RBA) Rating Lowered to “Hold” at StockNews.com

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

Other research analysts also recently issued reports about the company. BMO Capital Markets increased their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James boosted their price objective on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their target price on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird boosted their price target on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, CIBC decreased their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.64.

RB Global Stock Performance

RBA stock opened at $100.40 on Wednesday. RB Global has a 1-year low of $69.83 and a 1-year high of $106.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a market cap of $18.55 billion, a PE ratio of 49.95, a P/E/G ratio of 4.95 and a beta of 0.94. The business’s 50-day moving average price is $96.21 and its two-hundred day moving average price is $91.28.

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

Insider Transactions at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the transaction, the chief executive officer now directly owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This represents a 12.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO James J. Jeter sold 600 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $98.63, for a total transaction of $59,178.00. Following the completion of the sale, the executive now directly owns 19,667 shares of the company’s stock, valued at approximately $1,939,756.21. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,897 shares of company stock worth $2,338,161. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC increased its stake in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after acquiring an additional 117 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of RB Global in the fourth quarter worth $27,000. Versant Capital Management Inc increased its position in shares of RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. Jones Financial Companies Lllp raised its stake in RB Global by 49.4% in the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in RB Global during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.