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

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

Several other brokerages have also recently commented on RBA. BMO Capital Markets boosted their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada raised their target price on RB Global from $99.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Robert W. Baird boosted their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and an average price target of $100.21.

RB Global Trading Up 0.7 %

Shares of RB Global stock opened at $89.15 on Monday. The stock has a market cap of $16.47 billion, a PE ratio of 48.45, a PEG ratio of 3.73 and a beta of 0.96. RB Global has a 52-week low of $64.04 and a 52-week high of $99.79. 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 firm has a 50-day moving average of $91.97 and a 200-day moving average of $86.97.

RB Global Dividend Announcement

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

Institutional Trading of RB Global

A number of institutional investors have recently bought and sold shares of RBA. Vontobel Holding Ltd. increased its position in RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock valued at $762,378,000 after buying an additional 753,700 shares in the last quarter. State Street Corp lifted its holdings in RB Global by 2.1% during the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock worth $406,087,000 after acquiring an additional 103,080 shares during the period. Geode Capital Management LLC boosted its position in RB Global by 3.0% in the third quarter. Geode Capital Management LLC now owns 3,702,381 shares of the business services provider’s stock worth $297,400,000 after purchasing an additional 108,188 shares during the last quarter. Janus Henderson Group PLC grew its stake in RB Global by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,383,191 shares of the business services provider’s stock valued at $272,293,000 after purchasing an additional 24,101 shares during the period. Finally, Fiera Capital Corp increased its holdings in RB Global by 4.1% during the fourth quarter. Fiera Capital Corp now owns 3,216,507 shares of the business services provider’s stock worth $290,000,000 after buying an additional 125,275 shares during the last quarter. 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.