RB Global (NYSE:RBA) Hits New 1-Year Low – Here’s What Happened

RB Global, Inc. (NYSE:RBA) (TSE:RBA) shares hit a new 52-week low on Thursday. The company traded as low as $78.23 and last traded at $78.5870, with a volume of 222100 shares. The stock had previously closed at $81.39.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Raymond James Financial raised RB Global from an “outperform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, June 30th. Wall Street Zen lowered RB Global from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Barclays reduced their price target on shares of RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, National Bank Financial decreased their price target on shares of RB Global from $133.00 to $130.00 and set a “sector outperform” rating for the company in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.57.

RB Global Stock Down 2.0%

The stock has a market cap of $14.46 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 1.39 and a beta of 0.52. The business has a fifty day moving average of $89.99 and a 200 day moving average of $99.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22.

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

RB Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Tuesday, August 25th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 25th. This is a boost from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is presently 56.65%.

Insiders Place Their Bets

In other RB Global news, Director Deborah Stein acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average cost of $80.91 per share, for a total transaction of $40,455.00. Following the completion of the acquisition, the director owned 2,325 shares of the company’s stock, valued at approximately $188,115.75. This trade represents a 27.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Chloe Harford bought 1,200 shares of the business’s stock in a transaction on Monday, August 24th. The shares were bought at an average price of $83.74 per share, for a total transaction of $100,488.00. Following the completion of the acquisition, the director owned 1,200 shares of the company’s stock, valued at approximately $100,488. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On RB Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBA. Addison Advisors LLC bought a new stake in RB Global during the second quarter worth approximately $26,000. J.Safra Asset Management Corp bought a new position in shares of RB Global in the second quarter valued at approximately $32,000. MV Capital Management Inc. acquired a new stake in shares of RB Global in the fourth quarter worth $29,000. Integrated Wealth Concepts LLC acquired a new stake in shares of RB Global in the second quarter worth $35,000. Finally, Bayban bought a new stake in shares of RB Global during the 4th quarter worth $34,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

About RB Global

RB Global, Inc (NYSE: RBA) is a global marketplace and service provider for used commercial and industrial assets. The company connects buyers and sellers of construction and agricultural equipment, trucks, trailers, transportation assets, vehicles and other specialized equipment through live auctions, online auctions and fixed-price marketplaces.

Its portfolio includes the Ritchie Bros. auction business, IronPlanet, Marketplace-E, GovPlanet, TruckPlanet, Rouse and SmartEquip. RB Global also operates IAA, a marketplace focused on salvage vehicles and automotive remarketing.