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

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 issued to investors on Saturday morning.

RBA has been the topic of a number of other reports. Raymond James Financial raised their price objective on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. CIBC increased their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. National Bank Financial cut shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Robert W. Baird upped their price objective on shares of RB Global from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Royal Bank Of Canada set a $125.00 target price on shares of 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 issued a buy rating to the company. According to data from MarketBeat.com, RB Global presently has an average rating of "Moderate Buy" and a consensus target price of $115.79.

RB Global Stock Down 0.8%

Shares of RBA traded down $0.80 during mid-day trading on Friday, hitting $104.79. 938,636 shares of the company's stock were exchanged, compared to its average volume of 958,102. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of 51.62, a P/E/G ratio of 3.76 and a beta of 0.77. The firm has a fifty day moving average of $105.36 and a two-hundred day moving average of $98.69. 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 twelve month low of $70.38 and a twelve month high of $109.25.

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

RB Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Thursday, May 29th were given 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 1.11%. RB Global's dividend payout ratio is 57.14%.

Insider Activity at RB Global

In related news, insider Andrew John Fesler sold 9,075 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the transaction, the insider directly owned 5,532 shares in the company, valued at $579,311.04. This represents a 62.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO James J. Jeter sold 3,500 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $104.38, for a total transaction of $365,330.00. Following the transaction, the executive owned 16,167 shares in the company, valued at approximately $1,687,511.46. The trade was a 17.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,075 shares of company stock worth $2,007,349. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On RB Global

Several large investors have recently added to or reduced their stakes in the company. Armstrong Henry H Associates Inc. grew its holdings in shares of RB Global by 68.2% during the 2nd quarter. Armstrong Henry H Associates Inc. now owns 13,965 shares of the business services provider's stock worth $1,483,000 after purchasing an additional 5,660 shares in the last quarter. Voya Investment Management LLC lifted its position in RB Global by 12.8% in the first quarter. Voya Investment Management LLC now owns 33,785 shares of the business services provider's stock worth $3,389,000 after purchasing an additional 3,847 shares during the period. Strs Ohio acquired a new stake in RB Global during the first quarter worth $1,849,000. Geneos Wealth Management Inc. boosted its stake in RB Global by 21.9% during the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider's stock worth $54,000 after buying an additional 97 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in RB Global by 77.0% in the 1st quarter. Intech Investment Management LLC now owns 77,800 shares of the business services provider's stock valued at $7,807,000 after buying an additional 33,845 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

RB Global Company Profile

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.