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

StockNews.com upgraded shares of RB Global (NYSE:RBA) (TSE:RBA) from a hold rating to a buy rating in a report released on Tuesday.

A number of other research firms have also commented on RBA. Royal Bank of Canada lifted their price objective on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets lifted their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird increased their price objective on RB Global from $86.00 to $100.00 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 stock an “outperformer” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, RB Global has a consensus rating of “Moderate Buy” and an average price target of $100.36.

RB Global Stock Performance

Shares of RBA opened at $89.83 on Tuesday. The company has a market capitalization 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. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. RB Global has a one year low of $60.84 and a one year high of $99.79. The company’s fifty day moving average price is $92.86 and its 200 day moving average price is $85.31.

RB Global Announces Dividend

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

Hedge Funds Weigh In On RB Global

Hedge funds have recently made changes to their positions in the business. State Street Corp boosted its position in shares of RB Global by 2.1% during the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after acquiring an additional 103,080 shares in the last quarter. Geode Capital Management LLC lifted its stake in RB Global by 3.0% during the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock worth $297,400,000 after purchasing an additional 108,188 shares during the period. Janus Henderson Group PLC boosted its holdings in RB Global by 0.7% during the third quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after purchasing an additional 24,101 shares in the last quarter. Fiera Capital Corp grew its stake in shares of RB Global by 5.7% in the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after purchasing an additional 168,945 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of RB Global by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock worth $196,109,000 after buying an additional 354,803 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.