RB Global (NYSE:RBA) Price Target Cut to $108.00 by Analysts at CIBC

RB Global (NYSE:RBA - Free Report) TSE: RBA had its price target lowered by CIBC from $109.00 to $108.00 in a report published on Monday,Benzinga reports. CIBC currently has an outperformer rating on the business services provider's stock.

Several other equities research analysts have also commented on the company. Robert W. Baird upped their price objective on RB Global from $86.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Royal Bank of Canada increased their price target 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. StockNews.com raised shares of RB Global from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Finally, BMO Capital Markets upped their price objective on shares of RB Global from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.21.

RB Global Stock Performance

Shares of RBA stock traded up $2.39 on Monday, hitting $91.50. The company had a trading volume of 907,073 shares, compared to its average volume of 922,974. The firm has a market cap of $16.90 billion, a P/E ratio of 49.73, a price-to-earnings-growth ratio of 3.73 and a beta of 0.96. RB Global has a twelve month low of $65.79 and a twelve month high of $99.79. The company has a 50-day moving average price of $91.84 and a 200-day moving average price of $87.00. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.27%. RB Global's dividend payout ratio (DPR) is 63.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its stake in RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after buying an additional 129 shares in the last quarter. 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 purchasing an additional 132 shares in the last quarter. Summit Trail Advisors LLC raised its stake in RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider's stock valued at $279,000 after purchasing an additional 137 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in RB Global by 25.4% in 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. Finally, Blue Trust Inc. lifted its holdings in RB Global by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock valued at $113,000 after purchasing an additional 157 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.