Zacks Research Downgrades RB Global (NYSE:RBA) to Hold

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

A number of other analysts also recently commented on the stock. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. National Bank Financial increased their price objective on shares of RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Raymond James Financial upgraded shares of RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, June 30th. Stephens reissued an “equal weight” rating and set a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. Finally, Weiss Ratings raised RB Global from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $128.00.

RB Global Price Performance

Shares of RBA opened at $84.24 on Thursday. RB Global has a one year low of $83.59 and a one year high of $119.58. The stock’s fifty day moving average is $107.80 and its 200-day moving average 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. The firm has a market capitalization of $15.60 billion, a price-to-earnings ratio of 36.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. The business 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%. Equities analysts anticipate that RB Global will post 4.06 EPS for the current year.

Insider Activity

In other RB Global news, Director Deborah Stein bought 425 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the acquisition, the director directly owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of RB Global

Large investors have recently added to or reduced their stakes in the business. Addison Advisors LLC acquired a new position in RB Global in the second quarter worth approximately $26,000. MV Capital Management Inc. acquired a new stake in shares of RB Global during the 4th quarter valued at $29,000. J.Safra Asset Management Corp acquired a new stake in shares of RB Global during the 2nd quarter valued at $32,000. Bayban bought a new stake in shares of RB Global during the 4th quarter worth $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of RB Global during the 1st quarter worth $43,000. 95.37% of the stock is currently owned by 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.