RB Global (NYSE:RBA) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of RB Global (NYSE:RBA) (TSE:RBA) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird raised their price target on shares of RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. CIBC raised their price target on shares of RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research note on Thursday, December 12th. BMO Capital Markets raised their price target on shares of RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada raised their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.36.

RB Global Price Performance

NYSE RBA opened at $89.63 on Wednesday. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 3.34 and a beta of 0.96. RB Global has a 52-week low of $60.84 and a 52-week high of $99.79. The business has a 50 day simple moving average of $93.26 and a 200 day simple moving average of $85.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.29%. RB Global’s dividend payout ratio is presently 63.04%.

Institutional Investors Weigh In On RB Global

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in RB Global by 2.1% during the 3rd quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after purchasing an additional 103,080 shares during the last quarter. Geode Capital Management LLC lifted its holdings in RB Global by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock valued at $297,400,000 after purchasing an additional 108,188 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in RB Global by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after purchasing an additional 24,101 shares during the last quarter. Fiera Capital Corp lifted its holdings in RB Global by 5.7% during the 2nd quarter. Fiera Capital Corp now owns 3,143,924 shares of the business services provider’s stock valued at $239,881,000 after purchasing an additional 168,945 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in RB Global by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after purchasing an additional 354,803 shares during the last quarter. 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.