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

StockNews.com cut shares of RB Global (NYSE:RBA) (TSE:RBA) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other brokerages also recently issued reports on RBA. Royal Bank of Canada upped their target price on shares of 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 upped their price objective on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Robert W. Baird increased 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. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, CIBC dropped their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and an average target price of $107.64.

RB Global Trading Down 0.3 %

RBA opened at $100.26 on Wednesday. The business has a 50 day simple moving average of $96.00 and a two-hundred day simple moving average of $91.22. RB Global has a one year low of $69.83 and a one year high of $106.90. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of 49.88, a PEG ratio of 4.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion during 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 quarter in the previous year, the business earned $0.82 EPS. Analysts predict that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, February 14th. RB Global’s dividend payout ratio (DPR) is currently 57.71%.

Insider Buying and Selling at RB Global

In other RB Global news, CRO James J. Jeter sold 7,597 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This trade represents a 27.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,897 shares of company stock valued at $2,338,161 in the last quarter. 4.32% of the stock is owned by insiders.

Institutional Trading of RB Global

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in RB Global by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock worth $2,248,060,000 after acquiring an additional 358,752 shares during the period. Vontobel Holding Ltd. raised its stake in shares of RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares during the last quarter. State Street Corp lifted its holdings in shares of RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after purchasing an additional 103,080 shares during the period. Geode Capital Management LLC boosted its position in RB Global by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after buying an additional 264,778 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in RB Global by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock valued at $307,033,000 after buying an additional 19,895 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

About RB Global

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.