RB Global (NYSE:RBA) Rating Increased to Buy at StockNews.com

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

RBA has been the topic of a number of other research reports. Robert W. Baird upped their target price on shares of RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. CIBC increased 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. 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 report on Monday, November 11th. Finally, BMO Capital Markets upped their price target on RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.36.

RB Global Stock Performance

RBA traded down $1.58 during trading on Tuesday, reaching $89.83. 606,596 shares of the company’s stock were exchanged, compared to its average volume of 647,449. RB Global has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. The company has a market capitalization of $16.59 billion, a P/E ratio of 48.82, a PEG ratio of 4.56 and a beta of 0.96. 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 business has a 50 day moving average price of $92.86 and a 200 day moving average price of $85.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBA. Weil Company Inc. increased its holdings in shares of RB Global by 1.2% in the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock valued at $912,000 after purchasing an additional 132 shares in the last quarter. Blue Trust Inc. boosted its position 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 valued at $113,000 after buying an additional 157 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after buying an additional 176 shares during the period. CWM LLC raised its position in shares of RB Global by 6.3% during the third quarter. CWM LLC now owns 3,956 shares of the business services provider’s stock worth $318,000 after acquiring an additional 235 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of RB Global by 30.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 241 shares during the period. Institutional investors and hedge funds 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.