RB Global (NYSE:RBA) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of RB Global (NYSE:RBAFree Report) (TSE:RBA) from a buy rating to a hold rating in a report published on Wednesday.

A number of other research firms also recently weighed in on RBA. CIBC lifted their price target on shares of RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research report on Thursday, December 12th. BMO Capital Markets upped their target price 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 raised their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Robert W. Baird increased their price objective 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.36.

Read Our Latest Stock Analysis on RB Global

RB Global Trading Down 0.7 %

Shares of RB Global stock opened at $89.24 on Wednesday. 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 moving average of $93.22 and a 200-day moving average of $85.89. RB Global has a 52-week low of $60.84 and a 52-week high of $99.79. The stock has a market cap of $16.49 billion, a PE ratio of 48.50, a PEG ratio of 3.34 and a beta of 0.96.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.30%. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Institutional Trading of RB Global

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

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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