RB Global (NYSE:RBA) Sees Strong Trading Volume – Should You Buy?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) saw strong trading volume on Tuesday . 437,057 shares were traded during mid-day trading, a decline of 21% from the previous session’s volume of 553,405 shares.The stock last traded at $90.01 and had previously closed at $89.39.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price objective 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 boosted their price objective on shares of RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research report on Thursday, December 12th. Royal Bank of Canada boosted their price objective on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, 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 report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.36.

RB Global Stock Performance

The company has a market capitalization of $16.59 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96. 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’s fifty day simple moving average is $93.26 and its 200-day simple moving average is $85.76.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.29%. RB Global’s payout ratio is currently 63.04%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Arlington Partners LLC lifted its holdings in shares of RB Global by 22.3% during the 3rd quarter. Arlington Partners LLC now owns 49,180 shares of the business services provider’s stock worth $3,958,000 after acquiring an additional 8,961 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of RB Global during the 4th quarter worth about $27,000. CIBC Asset Management Inc lifted its holdings in shares of RB Global by 57.1% during the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after acquiring an additional 357,761 shares during the period. Teachers Retirement System of The State of Kentucky increased its position 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 worth $4,805,000 after purchasing an additional 20,795 shares in the last quarter. Finally, Diversified Trust Co increased its position 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 worth $5,694,000 after purchasing an additional 20,724 shares in the last quarter. 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.