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

by · The Markets Daily

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

Analyst Ratings Changes

RBA has been the subject of several research reports. Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $152.00 target price on shares of RB Global in a report on Wednesday, September 23rd. Wall Street Zen downgraded shares of RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. National Bank Financial lowered their target price on RB Global from $133.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Monday, September 14th. Finally, Weiss Ratings lowered shares of RB Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.57.

Check Out Our Latest Research Report on RBA

RB Global Stock Performance

The firm has a market capitalization 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 company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $89.99 and a 200-day moving average price of $99.78.

RB Global (NYSE:RBA – Get Free Report) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $1.66 billion for 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%. As a group, equities research analysts forecast that RB Global, Inc. will post 4.06 earnings per share for the current year.

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. This is a positive change from RB Global’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, August 25th. RB Global’s payout ratio is currently 56.65%.

Insider Transactions at RB Global

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

Institutional Trading of RB Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of RB Global during the 2nd quarter valued at $1,816,059,000. EdgePoint Investment Group Inc. grew its holdings in shares of RB Global by 14.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,812,865 shares of the business services provider’s stock worth $845,337,000 after acquiring an additional 1,111,217 shares during the last quarter. Royal Bank of Canada raised its position in shares of RB Global by 13.1% during the first quarter. Royal Bank of Canada now owns 5,043,648 shares of the business services provider’s stock worth $483,432,000 after purchasing an additional 585,617 shares during the period. Jupiter Topco LLC acquired a new stake in shares of RB Global during the second quarter worth $514,871,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of RB Global by 7.0% during the first quarter. Janus Henderson Group PLC now owns 4,371,610 shares of the business services provider’s stock valued at $418,876,000 after purchasing an additional 285,713 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Company Profile

(Get Free Report)

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.

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