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

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

RBA has been the topic of several other research reports. Robert W. Baird boosted their price target on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Royal Bank of Canada boosted 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. BMO Capital Markets increased their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. CIBC cut their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Finally, Raymond James upped their price objective 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, RB Global currently has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Trading Down 1.1 %

Shares of RBA stock opened at $100.24 on Tuesday. The firm has a fifty day moving average of $92.44 and a 200-day moving average of $89.02. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 49.87, a P/E/G ratio of 4.95 and a beta of 0.96. RB Global has a 52-week low of $69.83 and a 52-week high of $106.90. 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 (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period last year, the company earned $0.82 EPS. On average, equities research analysts forecast that RB Global will post 2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RB Global

A number of institutional investors have recently modified their holdings of RBA. CoreCap Advisors LLC increased its holdings in shares of RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in RB Global in the 4th quarter valued at $27,000. Versant Capital Management Inc increased its stake 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 valued at $28,000 after buying an additional 176 shares during the period. Jones Financial Companies Lllp raised its position in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of RB Global during the fourth quarter valued at $36,000. 95.37% of the stock is owned by institutional investors.

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.