RB Global (NYSE:RBA) Cut to Hold at StockNews.com

StockNews.com downgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a buy rating to a hold rating in a research note released on Wednesday.

Several other analysts have also recently commented on the company. BMO Capital Markets boosted their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. 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 report on Wednesday, February 19th. CIBC decreased their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird upped their price objective on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James raised their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Stock Performance

RBA opened at $97.90 on Wednesday. The firm’s fifty day simple moving average is $96.38 and its two-hundred day simple moving average is $91.38. RB Global has a 52-week low of $69.83 and a 52-week high of $106.90. The company has a market cap of $18.09 billion, a price-to-earnings ratio of 48.70, a PEG 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 (NYSE:RBA) (TSE:RBA) last issued 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). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business posted $0.82 earnings per share. Equities analysts anticipate that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. RB Global’s dividend payout ratio (DPR) is 57.71%.

Insider Transactions at RB Global

In related 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 owns 19,667 shares in the company, valued at approximately $1,939,756.21. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,897 shares of company stock worth $2,338,161 in the last 90 days. Insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On RB Global

Hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its position in RB Global by 18.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the business services provider’s stock valued at $441,000 after purchasing an additional 752 shares during the period. Members Wealth LLC acquired a new stake in shares of RB Global in the fourth quarter valued at $2,738,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of RB Global in the 4th quarter valued at $3,590,000. Ascent Group LLC lifted its stake in RB Global by 2.7% during the 4th quarter. Ascent Group LLC now owns 11,285 shares of the business services provider’s stock worth $1,018,000 after acquiring an additional 295 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. purchased a new position in RB Global during the 4th quarter valued at about $209,000. Hedge funds and other institutional investors 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.