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 note issued to investors on Tuesday.

Several other brokerages have also recently commented on RBA. Royal Bank of Canada raised their target price on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. CIBC raised their price objective on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research report on Thursday, December 12th. Robert W. Baird lifted their target price on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets increased their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average target price of $100.36.

RB Global Stock Down 1.7 %

Shares of NYSE:RBA opened at $89.83 on Tuesday. The firm has a 50 day simple moving average of $92.86 and a 200 day simple moving average of $85.31. RB Global has a 52 week low of $60.84 and a 52 week high of $99.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The company has a market cap of $16.59 billion, a PE ratio of 48.82, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96.

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 dividend on an annualized basis and a yield of 1.29%. RB Global’s dividend payout ratio is currently 63.04%.

Institutional Trading of RB Global

Institutional investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new position in shares of RB Global during the 4th quarter worth $27,000. Versant Capital Management Inc increased its position in 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 buying an additional 176 shares during the last quarter. UMB Bank n.a. increased its position in RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after buying an additional 388 shares during the last quarter. Quarry LP bought a new position in RB Global during the second quarter valued at about $53,000. Finally, Covestor Ltd lifted its position in shares of RB Global by 533.1% in the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock worth $65,000 after buying an additional 677 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.