RB Global (NYSE:RBA) Lowered to Hold Rating by Wall Street Zen

RB Global (NYSE:RBA) (TSE:RBA) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the company. National Bank Financial increased their target price on RB Global from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, June 30th. Barclays began coverage on RB Global in a report on Thursday, May 28th. They issued an “overweight” rating and a $124.00 price objective on the stock. BMO Capital Markets reissued an “outperform” rating and set a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $128.00.

RB Global Trading Down 1.2%

NYSE RBA opened at $111.76 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.40. RB Global has a 52 week low of $93.58 and a 52 week high of $119.58. The stock has a market capitalization of $20.78 billion, a PE ratio of 51.98, a price-to-earnings-growth ratio of 1.77 and a beta of 0.55. The firm has a 50 day moving average of $108.04 and a two-hundred day moving average of $106.12.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.04. The business had revenue of $888.01 million for the quarter, compared to analyst estimates of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. As a group, research analysts expect that RB Global will post 4.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Deborah Stein purchased 425 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This represents a 30.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RB Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new position in RB Global in the 4th quarter valued at about $29,000. Bayban acquired a new stake in RB Global during the 4th quarter worth approximately $34,000. Central Pacific Bank Trust Division grew its stake in shares of RB Global by 41.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 363 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 107 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of RB Global in the 1st quarter valued at approximately $43,000. Finally, State of Wyoming purchased a new position in shares of RB Global in the 2nd quarter valued at approximately $46,000. 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.