RB Global (NYSE:RBA) Upgraded at StockNews.com

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

RBA has been the subject of several other research reports. BMO Capital Markets upped 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. CIBC upped their target price on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a report on Thursday, December 12th. Robert W. Baird lifted their price target on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, 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 note 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.36.

RB Global Stock Performance

RBA stock opened at $90.35 on Monday. RB Global has a 1-year low of $62.44 and a 1-year high of $99.79. The business has a 50-day moving average price of $92.78 and a 200 day moving average price of $86.66. The company has a market capitalization of $16.69 billion, a P/E ratio of 49.10, a PEG ratio of 3.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 annualized dividend and a yield of 1.28%. RB Global’s dividend payout ratio (DPR) is 63.04%.

Institutional Investors Weigh In On RB Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBA. Renaissance Technologies LLC increased its holdings in shares of RB Global by 468.3% during the second quarter. Renaissance Technologies LLC now owns 48,784 shares of the business services provider’s stock valued at $3,725,000 after acquiring an additional 40,200 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in RB Global during the 2nd quarter valued at approximately $3,390,000. ProShare Advisors LLC purchased a new position in shares of RB Global in the second quarter worth $662,000. Cubist Systematic Strategies LLC lifted its stake in shares of RB Global by 908.6% during the second quarter. Cubist Systematic Strategies LLC now owns 17,328 shares of the business services provider’s stock worth $1,321,000 after buying an additional 15,610 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of RB Global in the 2nd quarter valued at $402,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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.