RB Global (NYSE:RBA) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a hold rating to a buy rating in a research report sent to investors on Monday.

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

RB Global Stock Up 1.0 %

Shares of RBA opened at $91.32 on Monday. RB Global has a fifty-two week low of $62.20 and a fifty-two week high of $99.79. The company’s fifty day moving average is $92.91 and its two-hundred day moving average is $86.56. The firm has a market cap of $16.87 billion, a PE ratio of 49.63, a price-to-earnings-growth ratio of 3.39 and a beta of 0.96. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, February 6th. RB Global’s dividend payout ratio (DPR) is 63.04%.

Institutional Investors Weigh In On RB Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global in the fourth quarter valued at $27,000. Versant Capital Management Inc raised its position in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of RB Global during the fourth quarter valued at $40,000. UMB Bank n.a. boosted its position in shares of RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 388 shares during the period. Finally, Quarry LP purchased a new position in RB Global in the 2nd quarter worth about $53,000. 95.37% of the stock is currently owned by institutional investors.

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.