RB Global (NYSE:RBA) Stock Rating Upgraded by StockNews.com

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

Other analysts also recently issued research reports about the company. Royal Bank of Canada dropped their price target on RB Global from $75.00 to $73.00 and set an outperform rating for the company in a research report on Friday, November 10th. National Bankshares boosted their target price on RB Global from $71.00 to $73.00 and gave the stock an outperform rating in a research report on Friday, November 10th. Finally, Scotiabank boosted their target price on RB Global from $74.00 to $76.00 and gave the stock a sector outperform rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, RB Global has an average rating of Moderate Buy and a consensus target price of $71.83.

Read Our Latest Research Report on RB Global

RB Global Stock Performance

Shares of RBA opened at $68.15 on Friday. The company has a market cap of $12.44 billion, a PE ratio of 81.13, a price-to-earnings-growth ratio of 5.15 and a beta of 0.83. The company has a current ratio of 1.31, a quick ratio of 1.18 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $64.88 and a 200-day moving average price of $63.54. RB Global has a 12-month low of $51.07 and a 12-month high of $69.01.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be given a $0.27 dividend. The ex-dividend date is Thursday, February 8th. This represents a $1.08 annualized dividend and a yield of 1.58%. RB Global’s payout ratio is currently 128.57%.

Insider Activity

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

Institutional Investors Weigh In On RB Global

Hedge funds have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. increased its position in RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock worth $31,000 after buying an additional 162 shares in the last quarter. Wealth Alliance grew its position in shares of RB Global by 3.4% during the second quarter. Wealth Alliance now owns 5,648 shares of the business services provider’s stock worth $339,000 after purchasing an additional 187 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of RB Global by 5.9% during the second quarter. Parkside Financial Bank & Trust now owns 3,388 shares of the business services provider’s stock worth $203,000 after purchasing an additional 189 shares in the last quarter. Signaturefd LLC grew its holdings in 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 buying an additional 190 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in 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 buying an additional 237 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

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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