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

StockNews.com upgraded shares of RB Global (NYSE:RBAFree Report) (TSE:RBA) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Several other research firms have also commented on RBA. Scotiabank raised their target price on shares of RB Global from $74.00 to $76.00 and gave the company a sector outperform rating in a report on Tuesday, February 6th. Royal Bank of Canada decreased their target price on shares of RB Global from $75.00 to $73.00 and set an outperform rating on the stock in a report on Friday, November 10th. Finally, National Bankshares lifted their price target on shares of RB Global from $71.00 to $73.00 and gave the company an outperform rating in a report on Friday, November 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $71.83.

View Our Latest Research Report on RBA

RB Global Price Performance

RBA stock opened at $68.15 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.31 and a debt-to-equity ratio of 0.63. RB Global has a 12 month low of $51.07 and a 12 month high of $69.01. The firm has a market cap of $12.44 billion, a P/E ratio of 81.13, a P/E/G ratio of 5.15 and a beta of 0.83. The company’s 50-day moving average price is $64.88 and its two-hundred day moving average price is $63.54.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, February 8th. RB Global’s payout ratio is 128.57%.

Insiders Place Their Bets

In other RB Global news, insider Darren Jeffrey Watt sold 1,094 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $65.94, for a total transaction of $72,138.36. Following the sale, the insider now directly owns 14,880 shares of the company’s stock, valued at approximately $981,187.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ann Fandozzi sold 238,368 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $62.19, for a total value of $14,824,105.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Darren Jeffrey Watt sold 1,094 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $65.94, for a total transaction of $72,138.36. Following the completion of the transaction, the insider now owns 14,880 shares in the company, valued at approximately $981,187.20. The disclosure for this sale can be found here. Insiders have sold 243,212 shares of company stock valued at $15,139,394 in the last ninety days. 4.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Oakworth Capital Inc. lifted its position in shares of RB Global by 53.3% during the 4th quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 162 shares during the period. Wealth Alliance lifted its position in shares of RB Global by 3.4% during the 2nd quarter. Wealth Alliance now owns 5,648 shares of the business services provider’s stock valued at $339,000 after acquiring an additional 187 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of RB Global by 5.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,388 shares of the business services provider’s stock valued at $203,000 after acquiring an additional 189 shares during the period. Signaturefd LLC lifted its position in shares of RB Global by 11.0% during the 4th quarter. Signaturefd LLC now owns 1,917 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 190 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its position in shares of RB Global by 1.6% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 14,874 shares of the business services provider’s stock valued at $892,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

RB Global Company Profile

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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; Xcira that provides live simulcast auction technologies; and Veritread, an online marketplace for heavy haul transport solution.

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Analyst Recommendations for RB Global (NYSE:RBA)

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