RB Global (NYSE:RBA) Reaches New 52-Week Low – Time to Sell?

RB Global, Inc. (NYSE:RBA) (TSE:RBA)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $81.01 and last traded at $81.1490, with a volume of 15974 shares changing hands. The stock had previously closed at $81.88.

Analysts Set New Price Targets

RBA has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce reaffirmed 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 target on the stock in a report on Tuesday, June 30th. Wall Street Zen downgraded RB Global from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Barclays cut their price objective on RB Global from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Finally, Zacks Research downgraded RB Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $128.00.

RB Global Trading Down 1.0%

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.22. The firm has a market capitalization of $14.91 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 1.39 and a beta of 0.52. The stock’s 50-day simple moving average is $97.85 and its two-hundred day simple moving average is $101.59.

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

RB Global Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This is a positive change from RB Global’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. RB Global’s dividend payout ratio (DPR) is 56.65%.

Insider Activity

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

Institutional Trading of RB Global

Several hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in shares of RB Global by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 4,516 shares of the business services provider’s stock valued at $526,000 after purchasing an additional 175 shares in the last quarter. WINTON GROUP Ltd increased its position in RB Global by 377.9% in the second quarter. WINTON GROUP Ltd now owns 19,800 shares of the business services provider’s stock worth $2,306,000 after purchasing an additional 15,657 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in RB Global during the second quarter valued at $35,000. NewEdge Advisors LLC raised its stake in RB Global by 6.1% during the second quarter. NewEdge Advisors LLC now owns 5,763 shares of the business services provider’s stock valued at $671,000 after purchasing an additional 332 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in RB Global during the second quarter valued at $732,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

About RB Global

RB Global, Inc (NYSE: RBA) operates a global marketplace for the sale and management of used equipment, vehicles and other commercial assets. The company serves construction, transportation, agriculture, energy, government and other industrial sectors, helping businesses buy, sell, manage and value assets through digital and physical channels.

Its services include unreserved live and online auctions, timed auctions, private sales, equipment listings, inspections, valuations, financing and asset-management solutions.