RB Global (NYSE:RBA) Price Target Cut to $108.00 by Analysts at CIBC

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

RBA has been the subject of a number of other research reports. StockNews.com upgraded RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. 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 research report on Monday, November 11th. Royal Bank of Canada boosted 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 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.21.

RB Global Price Performance

RBA stock traded down $0.31 during mid-day trading on Monday, reaching $89.17. 530,981 shares of the company traded hands, compared to its average volume of 933,465. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.28 and a quick ratio of 1.17. 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. RB Global has a 52-week low of $63.13 and a 52-week high of $99.79. The company has a fifty day moving average price of $92.52 and a 200-day moving average price of $86.84.

Institutional Investors Weigh In On RB Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBA. Arlington Partners LLC lifted its holdings in shares of RB Global by 22.3% during the third quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock valued at $3,958,000 after purchasing an additional 8,961 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global during the fourth quarter worth about $27,000. CIBC Asset Management Inc grew its position in shares of RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares in the last quarter. Diversified Trust Co grew its holdings in RB Global by 48.9% during the 4th quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock valued at $5,694,000 after buying an additional 20,724 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in RB Global by 53.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock valued at $4,805,000 after buying an additional 20,795 shares in the last quarter. 95.37% of the stock is 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.