StockNews.com Upgrades RB Global (NYSE:RBA) to Buy

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

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

RB Global Stock Down 1.0 %

Shares of NYSE:RBA opened at $90.39 on Monday. The business’s 50 day moving average is $92.84 and its 200 day moving average is $86.64. The stock has a market cap of $16.70 billion, a P/E ratio of 49.12, a price-to-earnings-growth ratio of 3.39 and a beta of 0.96. RB Global has a 52-week low of $62.20 and a 52-week high of $99.79. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

Hedge Funds Weigh In On RB Global

Hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in RB Global in the 4th quarter worth approximately $27,000. Versant Capital Management Inc raised its holdings 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 valued at $28,000 after acquiring an additional 176 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of RB Global during the fourth quarter worth approximately $40,000. UMB Bank n.a. lifted its holdings in 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 in the last quarter. Finally, Quarry LP acquired a new position in RB Global during the second quarter worth about $53,000. 95.37% of the stock is 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.