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

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

RBA has been the topic of a number of other reports. 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 note on Wednesday, February 19th. Raymond James raised their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC reduced their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Finally, BMO Capital Markets lifted 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $107.64.

RB Global Trading Up 0.1 %

RB Global stock opened at $100.23 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The stock has a market cap of $18.52 billion, a P/E ratio of 49.87, a PEG ratio of 4.95 and a beta of 0.94. The firm’s fifty day moving average price is $95.79 and its 200-day moving average price is $91.15.

RB Global (NYSE:RBA) (TSE:RBA) last announced its 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 return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. Equities research analysts forecast that RB Global will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at RB Global

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC boosted its position in RB Global by 69.5% during the 4th quarter. Natixis Advisors LLC now owns 18,877 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 7,737 shares during the period. Central Pacific Bank Trust Division purchased a new stake in RB Global in the fourth quarter worth $27,000. Diversified Trust Co boosted its holdings in RB Global by 48.9% in the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after acquiring an additional 20,724 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after purchasing an additional 20,795 shares during the period. Finally, SRS Capital Advisors Inc. raised its holdings in RB Global by 163.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after purchasing an additional 400 shares in the last quarter. 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.