RB Global (NYSE:RBA) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of RB Global (NYSE:RBA) (TSE:RBA) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

RBA has been the topic of a number of other research reports. Weiss Ratings raised shares of RB Global from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of RB Global in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their price target on RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, June 30th. Finally, Barclays decreased their price objective on RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $128.00.

RB Global Price Performance

RB Global stock opened at $84.24 on Thursday. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 1.48 and a beta of 0.56. RB Global has a 52-week low of $83.59 and a 52-week high of $119.58. The stock’s 50 day moving average price is $107.80 and its two-hundred day moving average price is $105.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 1.31.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. On average, equities analysts predict that RB Global will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. RB Global’s payout ratio is 53.22%.

Insider Transactions at RB Global

In related news, Director Deborah Stein acquired 425 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $103.15 per share, with a total value of $43,838.75. Following the acquisition, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Addison Advisors LLC bought a new stake in RB Global in the 2nd quarter worth about $26,000. MV Capital Management Inc. bought a new position in shares of RB Global during the 4th quarter worth approximately $29,000. J.Safra Asset Management Corp purchased a new position in shares of RB Global in the 2nd quarter worth approximately $32,000. Bayban purchased a new position in shares of RB Global in the 4th quarter worth approximately $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of RB Global in the first quarter valued at approximately $43,000. 95.37% of the stock is currently owned by hedge funds and other 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.