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

RB Global (NYSE:RBA - Get Free Report) TSE: RBA was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

A number of other analysts also recently issued reports on RBA. Raymond James lifted their price target on RB Global from $118.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Robert W. Baird raised 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. CIBC boosted their price target on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. Finally, National Bank Financial lowered RB Global from a "strong-buy" rating to a "hold" rating in a report on Sunday, May 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $114.50.

RB Global Price Performance

Shares of RBA traded down $0.09 during trading hours on Friday, hitting $105.21. 844,101 shares of the stock were exchanged, compared to its average volume of 1,133,379. The stock's 50-day moving average price is $100.68 and its two-hundred day moving average price is $96.82. RB Global has a 12-month low of $70.27 and a 12-month high of $109.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The company has a market cap of $19.48 billion, a price-to-earnings ratio of 52.34, a price-to-earnings-growth ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Research analysts expect that RB Global will post 2.5 earnings per share for the current year.

Insider Transactions at RB Global

In other news, 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 transaction of $743,366.45. Following the sale, the executive now owns 20,267 shares in the company, valued at $1,983,125.95. The trade was a 27.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the sale, the chief executive officer now directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This trade represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,472 shares of company stock valued at $3,867,745 over the last three months. Company insiders own 4.32% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RBA. SouthState Corp purchased a new position in shares of RB Global during the 1st quarter valued at $26,000. CoreCap Advisors LLC grew its stake in 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. SVB Wealth LLC purchased a new stake in shares of RB Global during the 1st quarter worth about $28,000. MV Capital Management Inc. lifted its holdings in shares of 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 valued at $28,000 after buying an additional 278 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after buying an additional 279 shares in the last quarter. Institutional investors and hedge funds 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.