RB Global (NYSE:RBA) Given New $108.00 Price Target at CIBC

RB Global (NYSE:RBA) (TSE:RBA) had its price target dropped by equities research analysts at CIBC from $109.00 to $108.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperformer” rating on the business services provider’s stock. CIBC’s price target suggests a potential upside of 21.12% from the stock’s current price.

Several other research firms also recently weighed in on RBA. Robert W. Baird raised their target price on 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 target price on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets lifted their target price on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus price target of $100.21.

RB Global Stock Down 0.3 %

NYSE:RBA traded down $0.31 during mid-day trading on Monday, hitting $89.17. 530,981 shares of the company’s stock traded hands, compared to its average volume of 933,465. The company has a fifty day moving average of $92.52 and a 200 day moving average of $86.84. RB Global has a twelve month low of $63.13 and a twelve month high of $99.79. The company has a market capitalization of $16.47 billion, a P/E ratio of 48.52, a P/E/G ratio of 3.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

Hedge Funds Weigh In On RB Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sunpointe LLC purchased a new stake in shares of RB Global during the 4th quarter worth approximately $2,325,000. Peregrine Capital Management LLC increased its holdings in RB Global by 1.9% in the 4th quarter. Peregrine Capital Management LLC now owns 70,510 shares of the business services provider’s stock valued at $6,361,000 after purchasing an additional 1,303 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in RB Global by 5.1% in the 4th quarter. Sanctuary Advisors LLC now owns 6,188 shares of the business services provider’s stock valued at $563,000 after purchasing an additional 303 shares in the last quarter. Rhumbline Advisers boosted its position in RB Global by 0.8% in the 4th quarter. Rhumbline Advisers now owns 479,229 shares of the business services provider’s stock valued at $43,231,000 after buying an additional 3,947 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in RB Global by 2.6% in the 4th quarter. New York State Teachers Retirement System now owns 98,471 shares of the business services provider’s stock valued at $8,883,000 after buying an additional 2,476 shares during the last quarter. Institutional investors and hedge funds 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.