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

Wall Street Zen cut shares of RB Global (NYSE:RBA) (TSE:RBA) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada set a $125.00 price objective on RB Global and gave the stock an “outperform” rating in a research report on Wednesday. Robert W. Baird boosted their price objective on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. National Bankshares cut their price objective on RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. National Bank Financial cut RB Global from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 25th. Finally, Raymond James Financial boosted their price objective on RB Global from $118.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.79.

RB Global Stock Up 0.3%

Shares of NYSE:RBA opened at $105.73 on Friday. The stock has a market cap of $19.58 billion, a price-to-earnings ratio of 52.08, a PEG ratio of 3.76 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. RB Global has a 12-month low of $70.38 and a 12-month high of $109.25. The business’s 50 day moving average is $105.11 and its 200 day moving average is $98.49.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a return on equity of 8.03% and a net margin of 9.68%. RB Global’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. On average, sell-side analysts forecast that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Thursday, May 29th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.10%. RB Global’s payout ratio is presently 57.14%.

Insider Transactions at RB Global

In other RB Global news, insider Darren Jeffrey Watt sold 3,700 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $392,829.00. Following the sale, the insider directly owned 24,874 shares in the company, valued at $2,640,872.58. The trade was a 12.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO James J. Jeter sold 2,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the sale, the executive owned 14,167 shares in the company, valued at approximately $1,515,302.32. The trade was a 12.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,075 shares of company stock valued at $2,007,349. Corporate insiders own 4.32% of the company’s stock.

Institutional Trading of RB Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC lifted its holdings in RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. SouthState Corp purchased a new stake in RB Global during the 1st quarter worth about $26,000. MV Capital Management Inc. lifted its holdings in RB Global by 5,560.0% during the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after purchasing an additional 278 shares in the last quarter. SVB Wealth LLC purchased a new stake in RB Global during the 1st quarter worth about $28,000. Finally, Jones Financial Companies Lllp lifted its holdings in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares in the last quarter. 95.37% of the stock is currently 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.