RB Global (NYSE:RBA) Rating Lowered to “Hold” at National Bank Financial

National Bank Financial downgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a strong-buy rating to a hold rating in a research report released on Sunday morning,Zacks.com reports.

RBA has been the topic of several other research reports. Royal Bank of Canada boosted their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. National Bankshares reduced their price objective on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Raymond James upped their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of RB Global from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Finally, Robert W. Baird upped their price objective on shares of RB Global from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.50.

RB Global Stock Performance

NYSE RBA opened at $104.68 on Friday. The firm’s fifty day moving average price is $100.39 and its two-hundred day moving average price is $96.54. The stock has a market cap of $19.38 billion, a PE ratio of 52.08, a PEG ratio of 4.95 and a beta of 0.78. RB Global has a fifty-two week low of $70.27 and a fifty-two week high of $109.25. 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 (NYSE:RBA) (TSE:RBA) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts expect that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. RB Global’s payout ratio is currently 57.14%.

Insider Transactions at RB Global

In related news, CEO James Francis Kessler sold 15,700 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 directly owns 107,569 shares of the company’s stock, valued at approximately $10,521,323.89. This trade represents a 12.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew John Fesler sold 9,075 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the transaction, the insider now directly owns 5,532 shares of the company’s stock, valued at approximately $579,311.04. This trade represents a 62.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,472 shares of company stock worth $3,867,745 in the last quarter. Insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RBA. CoreCap Advisors LLC boosted its holdings 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 buying an additional 117 shares during the period. SouthState Corp bought a new position in RB Global in the 1st quarter worth approximately $26,000. MV Capital Management Inc. boosted its holdings in RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider’s stock worth $28,000 after buying an additional 278 shares during the period. SVB Wealth LLC bought a new position in RB Global in the 1st quarter worth approximately $28,000. Finally, Jones Financial Companies Lllp boosted its holdings in 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. 95.37% of the stock is owned by 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.