RB Global (NYSE:RBA) Cut to “Hold” at StockNews.com

RB Global (NYSE:RBA) (TSE:RBA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts have also recently commented on RBA. Robert W. Baird increased their target price on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada raised their price objective on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. CIBC upped their target price on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets raised their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.36.

RB Global Stock Up 0.2 %

RB Global stock traded up $0.16 during trading hours on Wednesday, reaching $89.63. The stock had a trading volume of 1,068,240 shares, compared to its average volume of 733,516. The company has a market cap of $16.56 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 4.56 and a beta of 0.96. The business’s 50 day moving average price is $93.26 and its 200-day moving average price is $85.76. RB Global has a 52 week low of $60.84 and a 52 week high of $99.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17.

Institutional Trading of RB Global

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in shares of RB Global during the second quarter worth about $1,098,000. Acadian Asset Management LLC acquired a new stake in RB Global during the 2nd quarter valued at approximately $390,000. American Century Companies Inc. lifted its stake in RB Global by 36.5% during the 2nd quarter. American Century Companies Inc. now owns 59,759 shares of the business services provider’s stock valued at $4,559,000 after acquiring an additional 15,983 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of RB Global by 2.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,640 shares of the business services provider’s stock valued at $2,042,000 after acquiring an additional 524 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of RB Global in the second quarter worth $1,340,000. Hedge funds and other institutional investors 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.