RB Global (NYSE:RBA) Raised to “Hold” at Stephens

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by Stephens to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

RBA has been the subject of a number of other research reports. Raymond James Financial raised their price objective on shares of RB Global from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. BMO Capital Markets raised their price objective on shares of RB Global from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Royal Bank Of Canada raised their price objective on shares of RB Global from $137.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings upgraded shares of RB Global from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $125.13.

RB Global Stock Performance

NYSE RBA opened at $104.37 on Thursday. RB Global has a 52-week low of $93.58 and a 52-week high of $119.58. The company has a 50-day simple moving average of $101.29 and a 200 day simple moving average of $103.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.10. The company has a market capitalization of $19.40 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 1.57 and a beta of 0.57.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, February 17th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. RB Global had a net margin of 9.33% and a return on equity of 11.12%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company posted $0.95 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that RB Global will post 2.5 EPS for the current year.

Insider Activity

In other RB Global news, Director Deborah Stein bought 400 shares of RB Global stock in a transaction dated Wednesday, March 18th. The stock was purchased at an average price of $98.74 per share, for a total transaction of $39,496.00. Following the completion of the purchase, the director directly owned 1,400 shares of the company’s stock, valued at approximately $138,236. This trade represents a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Francis Kessler sold 20,742 shares of RB Global stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $115.00, for a total transaction of $2,385,330.00. Following the completion of the transaction, the chief executive officer owned 107,569 shares of the company’s stock, valued at $12,370,435. The trade was a 16.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On RB Global

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of RB Global by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,330,426 shares of the business services provider’s stock worth $2,744,455,000 after purchasing an additional 124,926 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in RB Global by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,892,186 shares of the business services provider’s stock valued at $1,120,479,000 after acquiring an additional 165,260 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in RB Global by 11.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 7,701,648 shares of the business services provider’s stock valued at $792,934,000 after acquiring an additional 821,319 shares in the last quarter. Vontobel Holding Ltd. grew its stake in RB Global by 10.3% during the third quarter. Vontobel Holding Ltd. now owns 7,215,414 shares of the business services provider’s stock valued at $781,862,000 after acquiring an additional 672,450 shares in the last quarter. Finally, State Street Corp grew its stake in RB Global by 1.7% during the fourth quarter. State Street Corp now owns 6,290,640 shares of the business services provider’s stock valued at $647,118,000 after acquiring an additional 104,286 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.