StockNews.com Downgrades RB Global (NYSE:RBA) to Hold

StockNews.com cut shares of RB Global (NYSE:RBA - Free Report) TSE: RBA from a buy rating to a hold rating in a report published on Tuesday.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird upped their price objective 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 upped their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. CIBC decreased 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. Raymond James upped their price objective on shares of RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets increased their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, RB Global presently has an average rating of "Moderate Buy" and a consensus price target of $107.64.

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RB Global Stock Up 1.9 %

NYSE RBA traded up $1.90 during trading hours on Tuesday, hitting $102.33. The company had a trading volume of 1,321,986 shares, compared to its average volume of 1,060,700. RB Global has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The company has a market capitalization of $18.90 billion, a price-to-earnings ratio of 50.91, a P/E/G ratio of 4.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17. The firm's 50 day moving average is $92.86 and its 200 day moving average is $89.27.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period in the previous year, the company earned $0.82 earnings per share. Sell-side analysts anticipate that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. RB Global's payout ratio is 57.71%.

Hedge Funds Weigh In On RB Global

A number of large investors have recently bought and sold shares of RBA. Raymond James Financial Inc. bought a new position in RB Global in the fourth quarter worth about $266,148,000. Norges Bank bought a new position in RB Global in the fourth quarter worth about $209,931,000. FMR LLC lifted its holdings in RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock worth $252,985,000 after acquiring an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after acquiring an additional 753,700 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in RB Global by 309.6% in the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider's stock worth $65,014,000 after acquiring an additional 610,843 shares during the last quarter. 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.