RB Global (NYSE:RBA) Rating Increased 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 published on Monday.

Several other equities research analysts have also commented on RBA. Royal Bank of Canada upped 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 increased their price target on shares of RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a report on Thursday, December 12th. BMO Capital Markets lifted their price objective on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Robert W. Baird upped their price objective on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.36.

RB Global Stock Performance

Shares of RBA stock opened at $90.35 on Monday. RB Global has a 52-week low of $62.44 and a 52-week high of $99.79. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52. The stock has a market cap of $16.69 billion, a PE ratio of 49.10, a price-to-earnings-growth ratio of 3.39 and a beta of 0.96. The business has a 50-day simple moving average of $92.78 and a 200-day simple moving average of $86.66.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 6th will be paid a dividend of $0.29 per share. 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 1.28%. RB Global’s dividend payout ratio is currently 63.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arlington Partners LLC raised its holdings in shares of RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after acquiring an additional 8,961 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in RB Global in the 4th quarter valued at $27,000. CIBC Asset Management Inc raised its stake in RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after purchasing an additional 357,761 shares during the last quarter. Diversified Trust Co lifted its holdings in RB Global by 48.9% in the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after purchasing an additional 20,724 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after purchasing an additional 20,795 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other 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.