RB Global (NYSE:RBA) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of RB Global (NYSE:RBA - Free Report) TSE: RBA from a buy rating to a hold rating in a research report released on Wednesday morning.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. CIBC cut their price objective on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. Finally, Raymond James upped their price objective on RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.64.

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RB Global Stock Down 2.4 %

RBA traded down $2.39 during midday trading on Wednesday, reaching $97.90. The company's stock had a trading volume of 632,326 shares, compared to its average volume of 1,043,574. The stock's 50-day moving average is $96.38 and its 200-day moving average is $91.43. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 4.95 and a beta of 0.94. RB Global has a 1 year low of $69.83 and a 1 year high of $106.90. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same period in the previous year, the business posted $0.82 EPS. As a group, research analysts expect that RB Global will post 2.5 EPS for the current year.

RB Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. RB Global's payout ratio is presently 57.71%.

Insider Buying and Selling at RB Global

In related news, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The stock was 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 of the company's stock, valued at approximately $1,983,125.95. This trade represents a 27.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Francis Kessler sold 15,700 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares of the company's stock, valued at $10,521,323.89. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock valued at $2,338,161 over the last ninety days. 4.32% of the stock is currently owned by company insiders.

Institutional Trading of RB Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC increased its holdings in shares of RB Global by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after purchasing an additional 117 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc raised its holdings in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock worth $28,000 after acquiring an additional 176 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock valued at $35,000 after acquiring an additional 129 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of RB Global in the fourth quarter valued at $36,000. 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.