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

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

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. 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 note on Monday, November 11th. CIBC increased 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. Finally, BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.36.

Check Out Our Latest Report on RB Global

RB Global Stock Performance

RBA stock opened at $91.32 on Monday. The stock has a market cap of $16.87 billion, a P/E ratio of 49.63, a P/E/G ratio of 3.39 and a beta of 0.96. 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 firm has a 50 day simple moving average of $92.91 and a 200 day simple moving average of $86.56. RB Global has a 52 week low of $62.20 and a 52 week high of $99.79.

RB Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 6th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. RB Global’s payout ratio is 63.04%.

Institutional Trading of RB Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI raised its holdings in shares of RB Global by 309.6% in the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after buying an additional 610,843 shares in the last quarter. FMR LLC grew its stake in RB Global by 60.5% during the third quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after buying an additional 445,004 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after buying an additional 357,761 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after acquiring an additional 354,803 shares during the last quarter. Finally, Canoe Financial LP boosted its holdings in shares of RB Global by 22.0% in the 3rd quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after acquiring an additional 255,484 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Company Profile

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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.

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Analyst Recommendations for RB Global (NYSE:RBA)

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