RB Global (NYSE:RBA) Sets New 12-Month Low – Should You Sell?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $81.93 and last traded at $83.4530, with a volume of 37176 shares changing hands. The stock had previously closed at $82.75.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RBA shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $135.00 price target (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Stephens reiterated an “equal weight” rating and set a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, National Bank Financial boosted their price objective on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, RB Global currently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

RB Global Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The firm has a market capitalization of $15.50 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 1.44 and a beta of 0.53. The business’s fifty day simple moving average is $102.30 and its 200 day simple moving average is $102.62.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. RB Global had a net margin of 9.99% and a return on equity of 12.37%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.21 billion. On average, research analysts forecast that RB Global, Inc. will post 4.06 EPS for the current year.

RB Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.33 per share. This is a boost from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 1.6%. RB Global’s dividend payout ratio (DPR) is presently 56.65%.

Insider Buying and Selling at RB Global

In other RB Global news, Director Chloe Harford purchased 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $83.74 per share, with a total value of $100,488.00. Following the transaction, the director owned 1,200 shares in the company, valued at $100,488. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RB Global

Large investors have recently made changes to their positions in the business. Addison Advisors LLC purchased a new stake in RB Global during the second quarter worth about $26,000. J.Safra Asset Management Corp purchased a new position in shares of RB Global in the second quarter valued at $32,000. MV Capital Management Inc. purchased a new position in RB Global during the 4th quarter valued at about $29,000. Bayban bought a new stake in RB Global during the 4th quarter worth approximately $34,000. Finally, State of Wyoming purchased a new position in RB Global during the second quarter worth about $46,000. 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.