StockNews.com Downgrades RB Global (NYSE:RBA) to Hold

RB Global (NYSE:RBA) (TSE:RBA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other equities analysts have also issued research reports about the company. BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird upped their price objective on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. CIBC raised their target price on shares of RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.36.

RB Global Stock Up 0.2 %

Shares of NYSE RBA opened at $89.81 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $93.27 and a 200 day moving average of $85.79. RB Global has a 12-month low of $60.84 and a 12-month high of $99.79. The stock has a market cap of $16.59 billion, a PE ratio of 48.81, a P/E/G ratio of 3.34 and a beta of 0.96.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Weil Company Inc. raised its holdings in shares of RB Global by 1.2% during the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock valued at $912,000 after buying an additional 132 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of RB Global by 25.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after purchasing an additional 143 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of RB Global by 11.9% in the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock valued at $113,000 after purchasing an additional 157 shares during the period. Versant Capital Management Inc grew its holdings in RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 176 shares in the last quarter. Finally, CWM LLC increased its stake in RB Global by 6.3% during the 3rd quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock worth $318,000 after buying an additional 235 shares during the period. 95.37% of the stock is owned by hedge funds and other 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.