RumbleON, Inc. (NASDAQ:RMBL) Receives Average Rating of “Buy” from Analysts

Shares of RumbleON, Inc. (NASDAQ:RMBL) have received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $57.33.

RMBL has been the subject of several recent analyst reports. DA Davidson initiated coverage on RumbleON in a research note on Thursday. They issued a “buy” rating and a $47.00 price target for the company. Robert W. Baird assumed coverage on RumbleON in a research note on Thursday, September 2nd. They set an “outperform” rating and a $42.00 target price for the company. B. Riley reaffirmed a “buy” rating and set a $70.00 target price on shares of RumbleON in a research note on Thursday, October 7th. Finally, Wedbush assumed coverage on RumbleON in a report on Tuesday, September 14th. They set an “outperform” rating and a $55.00 target price for the company.

Shares of NASDAQ:RMBL traded up $1.99 on Friday, hitting $39.23. The company’s stock had a trading volume of 2,525 shares, compared to its average volume of 69,885. RumbleON has a 12 month low of $27.50 and a 12 month high of $64.13. The company has a market capitalization of $587.78 million, a price-to-earnings ratio of -8.27 and a beta of 2.90. The stock’s 50-day moving average is $35.81 and its two-hundred day moving average is $37.64. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.40 and a current ratio of 1.87.

RumbleON (NASDAQ:RMBL) last released its quarterly earnings results on Sunday, August 1st. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.84). RumbleON had a negative return on equity of 84.44% and a negative net margin of 2.57%. The business had revenue of $168.35 million during the quarter. Equities analysts expect that RumbleON will post 3.78 earnings per share for the current fiscal year.

In other news, Director Adam Alexander purchased 1,000 shares of the business’s stock in a transaction dated Friday, September 3rd. The stock was bought at an average cost of $36.84 per share, with a total value of $36,840.00. Following the purchase, the director now directly owns 15,977 shares of the company’s stock, valued at $588,592.68. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Denmar John Dixon acquired 13,636 shares of the stock in a transaction dated Tuesday, August 31st. The shares were bought at an average cost of $33.00 per share, for a total transaction of $449,988.00. The disclosure for this purchase can be found here. 15.65% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ophir Asset Management Pty Ltd bought a new stake in shares of RumbleON in the 2nd quarter worth approximately $9,925,000. ACK Asset Management LLC bought a new stake in shares of RumbleON in the 2nd quarter worth approximately $8,300,000. Silverback Asset Management LLC lifted its position in shares of RumbleON by 59.9% in the 2nd quarter. Silverback Asset Management LLC now owns 261,989 shares of the company’s stock worth $10,603,000 after acquiring an additional 98,119 shares during the period. Vanguard Group Inc. lifted its position in shares of RumbleON by 91.1% in the 2nd quarter. Vanguard Group Inc. now owns 128,374 shares of the company’s stock worth $5,195,000 after acquiring an additional 61,186 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of RumbleON in the 2nd quarter worth approximately $1,416,000. 41.59% of the stock is currently owned by hedge funds and other institutional investors.

RumbleON Company Profile

RumbleOn, Inc engages in the provision of motor vehicle dealer and e-commerce platform. It operates through the following segments: Powersports; Automotive; and Vehicle Logistics and Transportation. The Powersports segment distributes pre-owned motorcycles and powersports vehicles. The Automotive segment focuses on the distribution of pre-owned cars and trucks.

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Analyst Recommendations for RumbleON (NASDAQ:RMBL)

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