DA Davidson Reaffirms Neutral Rating for RumbleOn (NASDAQ:RMBL)

RumbleOn (NASDAQ:RMBL)‘s stock had its “neutral” rating restated by equities research analysts at DA Davidson in a report released on Tuesday, MarketBeat reports. They presently have a $5.00 price objective on the stock, down from their previous price objective of $7.50. DA Davidson’s price target points to a potential upside of 10.62% from the company’s previous close.

Separately, B. Riley lowered RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a research report on Friday, November 29th.

RumbleOn Trading Up 4.1 %

Shares of RMBL stock opened at $4.52 on Tuesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. The company has a market capitalization of $159.88 million, a price-to-earnings ratio of -0.54 and a beta of 2.31. RumbleOn has a 52-week low of $3.13 and a 52-week high of $8.17. The company has a 50-day simple moving average of $5.71 and a two-hundred day simple moving average of $4.86.

RumbleOn (NASDAQ:RMBL) last released its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The business had revenue of $295.00 million during the quarter, compared to the consensus estimate of $302.76 million. RumbleOn had a negative net margin of 15.25% and a negative return on equity of 122.45%. During the same period in the prior year, the company earned ($0.71) earnings per share. Research analysts anticipate that RumbleOn will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On RumbleOn

Large investors have recently modified their holdings of the stock. Rhumbline Advisers increased its position in RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after buying an additional 19,279 shares during the last quarter. Barclays PLC lifted its position in shares of RumbleOn by 278.7% during the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock valued at $102,000 after buying an additional 15,660 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of RumbleOn by 249.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock worth $114,000 after acquiring an additional 17,036 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of RumbleOn by 35.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after acquiring an additional 7,704 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in RumbleOn in the 2nd quarter valued at about $182,000. Hedge funds and other institutional investors own 66.14% of the company’s stock.

RumbleOn Company Profile

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.