RB Global (NYSE:RBA) Reaches New 1-Year Low – Should You Sell?

RB Global, Inc. (NYSE:RBA) (TSE:RBA) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $82.03 and last traded at $82.12, with a volume of 2488521 shares trading hands. The stock had previously closed at $84.26.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RBA shares. BMO Capital Markets reiterated an “outperform” rating and issued a $135.00 target price (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Zacks Research cut shares of RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. National Bank Financial upped their price target on shares of RB Global from $132.00 to $133.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings lowered RB Global from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Finally, Stephens reissued an “equal weight” rating and set a $96.00 price objective on shares of RB Global in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

RB Global Price Performance

The stock has a market capitalization of $15.98 billion, a P/E ratio of 37.04, a PEG ratio of 1.46 and a beta of 0.56. The stock’s fifty day moving average is $106.55 and its 200-day moving average is $104.55. 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 for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities analysts anticipate that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, August 25th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is 53.22%.

Institutional Investors Weigh In On RB Global

A number of large investors have recently added to or reduced their stakes in the stock. Personal CFO Solutions LLC raised its position in shares of RB Global by 0.9% in the first quarter. Personal CFO Solutions LLC now owns 11,192 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 96 shares during the period. Covestor Ltd boosted its holdings in shares of RB Global by 11.6% during the 4th quarter. Covestor Ltd now owns 933 shares of the business services provider’s stock worth $96,000 after buying an additional 97 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of RB Global by 21.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 540 shares of the business services provider’s stock worth $54,000 after buying an additional 97 shares during the period. Coldstream Capital Management Inc. grew its stake in RB Global by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,044 shares of the business services provider’s stock valued at $221,000 after buying an additional 105 shares during the last quarter. Finally, Sigma Planning Corp grew its stake in RB Global by 1.4% in the 4th quarter. Sigma Planning Corp now owns 8,416 shares of the business services provider’s stock valued at $866,000 after buying an additional 114 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

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.