RB Global (NYSE:RBA) Cut to Sell at StockNews.com

StockNews.com lowered shares of RB Global (NYSE:RBA) (TSE:RBA) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other brokerages have also weighed in on RBA. Royal Bank of Canada lowered their price objective on shares of RB Global from $75.00 to $73.00 and set an outperform rating for the company in a report on Friday, November 10th. Scotiabank lowered their price objective on shares of RB Global from $76.00 to $74.00 and set an outperform rating for the company in a report on Friday, November 10th. Finally, National Bankshares boosted their price objective on shares of RB Global from $71.00 to $73.00 and gave the stock an outperform rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $71.50.

RB Global Trading Up 0.5 %

Shares of RB Global stock opened at $61.95 on Friday. RB Global has a 1 year low of $51.07 and a 1 year high of $68.25. The firm has a market cap of $11.28 billion, a PE ratio of 73.94, a PEG ratio of 13.40 and a beta of 0.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.31 and a quick ratio of 1.18. The company has a 50 day simple moving average of $64.21 and a two-hundred day simple moving average of $60.54.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, November 9th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $939.92 million. RB Global had a net margin of 5.43% and a return on equity of 4.19%. Analysts expect that RB Global will post 0.65 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, November 30th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, November 29th. RB Global’s payout ratio is 128.57%.

Insider Buying and Selling at RB Global

In related news, CEO James Francis Kessler acquired 1,250 shares of RB Global stock in a transaction on Tuesday, November 14th. The shares were acquired at an average cost of $60.06 per share, with a total value of $75,075.00. Following the transaction, the chief executive officer now owns 64,261 shares in the company, valued at $3,859,515.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other RB Global news, Director Timothy J. O’day bought 1,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were purchased at an average price of $65.52 per share, for a total transaction of $98,280.00. Following the acquisition, the director now owns 1,500 shares in the company, valued at approximately $98,280. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Francis Kessler bought 1,250 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average price of $60.06 per share, for a total transaction of $75,075.00. Following the acquisition, the chief executive officer now owns 64,261 shares in the company, valued at approximately $3,859,515.66. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 4,750 shares of company stock valued at $293,135. 4.32% of the stock is currently owned by company insiders.

Institutional Trading of RB Global

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of RB Global during the 3rd quarter valued at $26,000. Cary Street Partners Investment Advisory LLC bought a new position in RB Global in the 3rd quarter worth about $26,000. Cornerstone Planning Group LLC bought a new position in RB Global in the 2nd quarter worth about $45,000. Belpointe Asset Management LLC boosted its stake in RB Global by 134.7% in the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the business services provider’s stock worth $51,000 after purchasing an additional 524 shares in the last quarter. Finally, WASHINGTON TRUST Co bought a new position in RB Global in the 3rd quarter worth about $56,000. Institutional investors own 90.24% of the company’s stock.

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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.