RB Global (NYSE:RBA) Upgraded by StockNews.com to “Buy” Rating

RB Global (NYSE:RBA) (TSE:RBA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

A number of other brokerages also recently commented on RBA. CIBC lifted their target price on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a research note on Thursday, December 12th. BMO Capital Markets boosted their price objective on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Robert W. Baird increased their target price on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada raised their target price on RB Global from $99.00 to $107.00 and gave the company 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.36.

RB Global Stock Performance

Shares of RB Global stock traded down $1.58 during trading hours on Tuesday, reaching $89.83. The company’s stock had a trading volume of 606,596 shares, compared to its average volume of 647,449. RB Global has a one year low of $60.84 and a one year high of $99.79. The company’s 50 day simple moving average is $92.86 and its 200 day simple moving average is $85.31. 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 stock has a market cap of $16.59 billion, a P/E ratio of 48.82, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96.

Institutional Investors Weigh In On RB Global

A number of hedge funds and other institutional investors have recently modified their holdings of RBA. Weil Company Inc. increased its position 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 buying an additional 132 shares during the period. Blue Trust Inc. grew its stake in shares of RB Global by 11.9% in the third 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 position in RB Global by 136.4% during the fourth 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 period. CWM LLC raised its stake in RB Global by 6.3% during the 3rd quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock valued at $318,000 after purchasing an additional 235 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $78,000 after purchasing an additional 241 shares during the period. 95.37% of the stock is currently owned by 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.