StockNews.com Downgrades RB Global (NYSE:RBA) to Hold

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

Other research analysts also recently issued research reports about the company. Royal Bank of Canada boosted their price target on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets boosted their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Robert W. Baird boosted their price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, CIBC boosted their price target on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.36.

RB Global Stock Up 0.2 %

RBA opened at $89.63 on Wednesday. RB Global has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. 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 company has a market capitalization of $16.56 billion, a P/E ratio of 48.71, a P/E/G ratio of 3.34 and a beta of 0.96. The stock has a fifty day moving average of $93.26 and a 200-day moving average of $85.76.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Wednesday, November 27th. RB Global’s dividend payout ratio is presently 63.04%.

Institutional Investors Weigh In On RB Global

Several large investors have recently added to or reduced their stakes in the company. Weil Company Inc. increased its holdings in RB Global by 1.2% in the 3rd quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after acquiring an additional 132 shares during the last quarter. Blue Trust Inc. increased its holdings in RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after acquiring an additional 157 shares during the last quarter. Versant Capital Management Inc increased its holdings in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares during the last quarter. CWM LLC boosted its stake in RB Global by 6.3% in the 3rd quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock worth $318,000 after purchasing an additional 235 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in RB Global by 30.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock worth $78,000 after purchasing an additional 241 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.