Wall Street Zen Downgrades RB Global (NYSE:RBA) to Hold

Wall Street Zen downgraded shares of RB Global (NYSE:RBA - Free Report) TSE: RBA from a buy rating to a hold rating in a research note published on Saturday.

A number of other equities analysts have also issued reports on the company. Raymond James Financial raised their target price on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Robert W. Baird raised their target price on RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. National Bankshares reduced their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. CIBC raised their target price on RB Global from $116.00 to $118.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada set a $125.00 price objective on RB Global and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Three 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 an average rating of "Moderate Buy" and a consensus price target of $115.79.

RB Global Stock Up 0.1%

NYSE RBA traded up $0.13 during midday trading on Friday, hitting $105.74. 357,966 shares of the company traded hands, compared to its average volume of 955,000. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21. The company has a market cap of $19.58 billion, a PE ratio of 52.10, a price-to-earnings-growth ratio of 3.76 and a beta of 0.77. The company's 50-day simple moving average is $105.11 and its 200-day simple moving average is $98.54. RB Global has a 52 week low of $70.38 and a 52 week high of $109.25.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts' consensus estimates of $0.89. The firm had revenue of $1.06 billion during 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%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. As a group, equities research analysts forecast that RB Global will post 2.5 earnings per share for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors 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 dividend payout ratio is presently 57.14%.

Insiders Place Their Bets

In related news, insider Darren Jeffrey Watt sold 3,700 shares of RB Global stock in a transaction dated 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 approximately $2,640,872.58. The trade was a 12.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Adam Dewitt sold 800 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $106.17, for a total value of $84,936.00. Following the transaction, the director owned 5,865 shares in the company, valued at approximately $622,687.05. This represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,075 shares of company stock worth $2,007,349 in the last 90 days. 0.28% of the stock is currently owned by company insiders.

Institutional Trading of RB Global

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in RB Global by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider's stock worth $2,248,060,000 after purchasing an additional 358,752 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of RB Global by 3.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,241,186 shares of the business services provider's stock valued at $1,027,191,000 after acquiring an additional 352,530 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of RB Global by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider's stock valued at $357,434,000 after acquiring an additional 264,778 shares in the last quarter. Fiera Capital Corp raised its stake in shares of RB Global by 17.3% in the first quarter. Fiera Capital Corp now owns 3,773,914 shares of the business services provider's stock valued at $379,150,000 after acquiring an additional 557,407 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of RB Global by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider's stock valued at $307,033,000 after acquiring an additional 19,895 shares in the last quarter. 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.