RB Global (NYSE:RBA) Sets New 52-Week Low – Should You Sell?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) hit a new 52-week low on Thursday . The company traded as low as $93.52 and last traded at $93.57, with a volume of 1122349 shares changing hands. The stock had previously closed at $95.63.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RBA. Weiss Ratings raised RB Global from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Raymond James Financial upgraded RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 target price for the company in a research note on Tuesday, June 30th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of RB Global in a research report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of RB Global in a report on Tuesday, May 5th. Finally, Stephens restated an “equal weight” rating and set a $96.00 target price on shares of RB Global in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, RB Global presently has an average rating of “Buy” and an average target price of $128.00.

RB Global Price Performance

The stock has a market cap of $17.23 billion, a PE ratio of 39.94, a P/E/G ratio of 2.27 and a beta of 0.56. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.07 and a current ratio of 1.14. The business has a 50 day moving average price of $109.92 and a two-hundred day moving average price of $106.45.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. Research analysts expect that RB Global, Inc. will post 4.16 earnings per share for the current fiscal year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is currently 56.65%.

Insiders Place Their Bets

In related news, Director Deborah Stein acquired 425 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the acquisition, the director owned 1,825 shares of the company’s stock, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.57% of the company’s stock.

Institutional Trading of RB Global

Several institutional investors have recently bought and sold shares of RBA. MV Capital Management Inc. bought a new stake in RB Global in the 4th quarter worth about $29,000. Bayban purchased a new position in shares of RB Global during the 4th quarter valued at $34,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of RB Global during the first quarter valued at approximately $43,000. State of Wyoming purchased a new position in shares of RB Global during the second quarter valued at about $46,000. Finally, Nemes Rush Group LLC bought a new stake in RB Global in the 4th quarter worth approximately $54,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.