RB Global (NYSE:RBA) Raised to “Buy” at StockNews.com

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

Several other equities research analysts have also weighed in on the company. CIBC raised their price objective on RB Global from $102.00 to $109.00 and gave the stock an “outperformer” rating in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets raised their target price 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. Finally, Robert W. Baird boosted their price target 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.36.

RB Global Stock Up 0.6 %

RBA stock opened at $90.31 on Tuesday. The firm has a market cap of $16.68 billion, a PE ratio of 49.08, a P/E/G ratio of 4.56 and a beta of 0.96. RB Global has a 12 month low of $60.84 and a 12 month high of $99.79. 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 firm has a 50 day simple moving average of $92.86 and a 200 day simple moving average of $85.31.

Institutional Investors Weigh In On RB Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new position in shares of RB Global in the second quarter worth $1,098,000. Acadian Asset Management LLC purchased a new stake in shares of RB Global during the 2nd quarter worth about $390,000. Caprock Group LLC acquired a new stake in shares of RB Global during the 2nd quarter valued at about $302,000. Oak Thistle LLC bought a new stake in shares of RB Global in the 2nd quarter valued at approximately $270,000. Finally, United Services Automobile Association acquired a new position in RB Global in the second quarter worth approximately $1,656,000. Hedge funds and other institutional investors 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.