RB Global (NYSE:RBA) Reaches New 52-Week Low – Here’s What Happened

RB Global, Inc. (NYSE:RBA) (TSE:RBA) hit a new 52-week low on Wednesday . The stock traded as low as $89.54 and last traded at $89.6350, with a volume of 1786642 shares. The stock had previously closed at $93.82.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RBA shares. Royal Bank Of Canada upped their price objective on shares of RB Global from $150.00 to $152.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. BMO Capital Markets restated an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of RB Global in a research report on Wednesday, August 5th. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, National Bank Financial lifted their price target on RB Global from $132.00 to $133.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, RB Global presently has an average rating of “Buy” and a consensus target price of $128.00.

RB Global Trading Down 0.0%

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 business’s fifty day moving average is $108.20 and its 200 day moving average is $105.44. The stock has a market cap of $16.00 billion, a PE ratio of 37.10, a P/E/G ratio of 1.46 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last issued 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. 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 during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, analysts predict that RB Global, Inc. will post 4.12 earnings per share for the current year.

RB Global Increases Dividend

The company 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 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 25th. This is an increase from RB Global’s previous quarterly dividend of $0.31. RB Global’s dividend payout ratio (DPR) is 53.22%.

Insider Transactions at RB Global

In other news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the completion of the transaction, the director owned 1,825 shares in the company, valued at $188,248.75. This trade represents a 30.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cibc World Market Inc. acquired a new stake in RB Global in the 2nd quarter valued at about $17,142,000. OMERS ADMINISTRATION Corp acquired a new position in RB Global during the second quarter worth about $13,657,000. Osmosis Investment Management UK Ltd purchased a new stake in shares of RB Global in the second quarter valued at about $824,000. Sanctuary Advisors LLC purchased a new stake in shares of RB Global in the second quarter valued at about $714,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of RB Global in the second quarter valued at approximately $152,994,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.