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

StockNews.com downgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a buy rating to a hold rating in a report issued on Tuesday morning.

A number of other research firms have also commented on RBA. Royal Bank of Canada increased their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. BMO Capital Markets increased their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC cut their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Robert W. Baird increased their price objective on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Raymond James boosted their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and an average price target of $107.64.

RB Global Stock Up 0.1 %

Shares of NYSE:RBA opened at $100.45 on Tuesday. The company’s fifty day moving average is $92.44 and its 200-day moving average is $89.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global has a 52 week low of $69.83 and a 52 week high of $106.90. The company has a market capitalization of $18.56 billion, a PE ratio of 49.97, a P/E/G ratio of 4.95 and a beta of 0.96.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly 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 firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter last year, the firm earned $0.82 earnings per share. Equities research analysts predict that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.15%. RB Global’s payout ratio is 57.71%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC raised its stake in shares of RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after buying an additional 117 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in RB Global during the 4th quarter worth $27,000. Versant Capital Management Inc raised its position 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 valued at $28,000 after acquiring an additional 176 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 129 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of RB Global in the 4th quarter worth $36,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.