RB Global (NYSE:RBA) Sees Strong Trading Volume – Should You Buy?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) shares saw an uptick in trading volume on Tuesday . 437,057 shares traded hands during trading, a decline of 21% from the previous session’s volume of 553,405 shares.The stock last traded at $90.01 and had previously closed at $89.39.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RBA. Royal Bank of Canada raised their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird raised their price target 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. BMO Capital Markets raised their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. StockNews.com downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, CIBC raised their price target 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.36.

RB Global Price Performance

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 company has a market capitalization of $16.59 billion, a P/E ratio of 48.81, a PEG ratio of 3.34 and a beta of 0.96. The business has a 50 day simple moving average of $93.26 and a 200-day simple moving average of $85.76.

RB Global Dividend Announcement

The firm 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, November 27th. RB Global’s dividend payout ratio (DPR) is 63.04%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RBA. Central Pacific Bank Trust Division acquired a new position in shares of RB Global during the fourth quarter valued at $27,000. Versant Capital Management Inc increased its holdings 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 valued at $28,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. increased its holdings in shares of RB Global by 196.0% during the third quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 388 shares during the period. Quarry LP acquired a new position in shares of RB Global during the second quarter valued at $53,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of RB Global by 25.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 143 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Company Profile

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.