RB Global (NYSE:RBA) Stock Rating Lowered by Zacks Research

RB Global (NYSE:RBA) (TSE:RBA) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

RBA has been the subject of a number of other reports. National Bank Financial raised their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised RB Global from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Barclays lowered their target price on RB Global from $124.00 to $121.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Stephens reissued an “equal weight” rating and issued a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, RB Global presently has an average rating of “Moderate Buy” and a consensus target price of $128.00.

RB Global Trading Down 2.5%

NYSE:RBA opened at $84.24 on Thursday. The company has a market capitalization of $15.60 billion, a PE ratio of 36.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.56. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. RB Global has a 52-week low of $83.59 and a 52-week high of $119.58. The stock has a fifty day simple moving average of $107.80 and a 200-day simple moving average of $105.29.

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

Insider Activity

In other news, Director Deborah Stein acquired 425 shares of RB Global stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $103.15 per share, with a total value of $43,838.75. Following the completion of the purchase, the director owned 1,825 shares of the company’s stock, valued at approximately $188,248.75. This represents a 30.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RBA. Personal CFO Solutions LLC lifted its stake in shares of RB Global by 0.9% during the 1st quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 96 shares during the period. Covestor Ltd grew its position in shares of RB Global by 11.6% in the fourth quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 97 shares during the period. Geneos Wealth Management Inc. increased its stake in RB Global by 21.9% in the first quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in RB Global by 5.4% in the third quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 105 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in RB Global by 1.4% during the fourth quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock worth $866,000 after buying an additional 114 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.