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

RB Global (NYSE:RBA) (TSE:RBA) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

RBA has been the topic of several other reports. CIBC lifted their target price on shares of RB Global from $118.00 to $121.00 and gave the company an “outperformer” rating in a research report on Friday, July 18th. BMO Capital Markets lifted their price objective on RB Global from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday. National Bankshares cut their target price on RB Global from $113.00 to $111.00 and set a “sector perform” rating for the company in a research report on Thursday, October 9th. Finally, Raymond James Financial boosted their price target on RB Global from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.71.

RB Global Stock Performance

Shares of NYSE:RBA traded up $4.22 during trading on Friday, hitting $100.43. 1,758,910 shares of the stock were exchanged, compared to its average volume of 1,093,170. RB Global has a 1-year low of $85.55 and a 1-year high of $119.58. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 49.72, a price-to-earnings-growth ratio of 2.48 and a beta of 0.65. The company’s fifty day simple moving average is $107.67 and its 200-day simple moving average is $107.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.28.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. RB Global had a return on equity of 9.42% and a net margin of 9.46%.RB Global’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Sell-side analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael Thomas Steven Lewis sold 2,151 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SouthState Corp acquired a new stake in RB Global in the 1st quarter valued at about $26,000. SVB Wealth LLC bought a new stake in shares of RB Global during the first quarter valued at approximately $28,000. IFP Advisors Inc increased its holdings in shares of RB Global by 348.8% in the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 279 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of RB Global in the first quarter valued at approximately $38,000. Finally, Spire Wealth Management raised its position in RB Global by 1,090.6% in the 3rd quarter. Spire Wealth Management now owns 381 shares of the business services provider’s stock worth $41,000 after purchasing an additional 349 shares during 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.