RB Global (NYSE:RBA) Cut 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 note issued to investors on Wednesday.

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

RB Global Trading Up 0.1 %

RBA opened at $100.23 on Wednesday. The stock has a market cap of $18.52 billion, a PE ratio of 49.87, a PEG ratio of 4.95 and a beta of 0.94. The business has a 50 day moving average of $95.79 and a 200-day moving average of $91.15. RB Global has a 52 week low of $69.83 and a 52 week high of $106.90. 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 (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data 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 firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the prior year, the business posted $0.82 EPS. Equities research analysts predict that RB Global will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at RB Global

In other news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction dated 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 owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the transaction, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,897 shares of company stock worth $2,338,161. Insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On RB Global

Institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC lifted its holdings in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in RB Global during the 4th quarter valued at $27,000. Versant Capital Management Inc lifted its holdings in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares during the last quarter. Jones Financial Companies Lllp lifted 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 worth $35,000 after purchasing an additional 129 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of RB Global during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors 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.