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

RB Global (NYSE:RBA) (TSE:RBA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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

RB Global Stock Down 1.5 %

NYSE:RBA traded down $1.59 during trading hours on Tuesday, reaching $101.25. The company’s stock had a trading volume of 994,985 shares, compared to its average volume of 1,059,580. The stock has a 50 day moving average price of $92.25 and a two-hundred day moving average price of $88.94. 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 capitalization of $18.70 billion, a P/E ratio of 50.37, a price-to-earnings-growth ratio of 4.95 and a beta of 0.96. RB Global has a 12 month low of $69.83 and a 12 month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). The company 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 quarter in the prior year, the business posted $0.82 earnings per share. Equities analysts predict that RB Global will post 2.5 EPS for the current fiscal year.

Institutional Investors Weigh In On RB Global

A number of large investors have recently made changes to their positions in RBA. CoreCap Advisors LLC raised its stake in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after acquiring an additional 117 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of RB Global in the fourth quarter valued at about $27,000. Versant Capital Management Inc raised its stake in shares of RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of RB Global by 49.4% during the fourth quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after purchasing an additional 129 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in RB Global in the fourth quarter valued at approximately $36,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.