RB Global (NYSE:RBA) Price Target Lowered to $108.00 at CIBC

RB Global (NYSE:RBA) (TSE:RBA) had its price objective lowered by CIBC from $109.00 to $108.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an outperformer rating on the business services provider’s stock.

A number of other equities research analysts have also issued reports on RBA. 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 report on Monday, November 11th. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Robert W. Baird upped 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. Finally, Royal Bank of Canada raised their price objective on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.21.

RB Global Price Performance

Shares of RB Global stock opened at $89.15 on Monday. 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 has a 52-week low of $64.04 and a 52-week high of $99.79. The company has a fifty day moving average of $91.97 and a 200-day moving average of $86.97. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 48.45, a price-to-earnings-growth ratio of 3.73 and a beta of 0.96.

RB Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. RB Global’s payout ratio is currently 63.04%.

Hedge Funds Weigh In On RB Global

Several hedge funds have recently bought and sold shares of the business. Weil Company Inc. increased its position in shares of RB Global by 1.2% during the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider’s stock worth $912,000 after acquiring an additional 132 shares during the period. Summit Trail Advisors LLC increased its holdings in RB Global by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after purchasing an additional 137 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in RB Global by 25.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 143 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider’s stock worth $113,000 after buying an additional 157 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after buying an additional 176 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

About RB Global

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.