CIBC Cuts RB Global (NYSE:RBA) Price Target to $108.00

RB Global (NYSE:RBA) (TSE:RBA) had its target price lowered by investment analysts at CIBC from $109.00 to $108.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperformer” rating on the business services provider’s stock. CIBC’s price target would indicate a potential upside of 21.92% from the company’s current price.

Several other research firms have also recently weighed in on RBA. Robert W. Baird boosted their price objective on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. BMO Capital Markets upped their price objective on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada upped their price target on shares of RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.21.

RB Global Price Performance

NYSE RBA opened at $88.58 on Monday. 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 capitalization of $16.36 billion, a price-to-earnings ratio of 48.14, a PEG ratio of 3.73 and a beta of 0.96. The stock has a 50-day moving average of $92.14 and a 200 day moving average of $86.96. RB Global has a one year low of $63.13 and a one year high of $99.79.

Institutional Trading of RB Global

Several institutional investors and hedge funds have recently modified their holdings of the company. Weil Company Inc. increased its stake in RB Global by 1.2% in the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after buying an additional 132 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after purchasing an additional 137 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock valued at $64,000 after buying an additional 143 shares in the last quarter. Blue Trust Inc. lifted its holdings 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 worth $113,000 after buying an additional 157 shares in the last quarter. Finally, Versant Capital Management Inc boosted 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 acquiring an additional 176 shares during the last quarter. 95.37% of the stock is currently owned by 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.