RB Global (NYSE:RBA) Sets New 52-Week Low - Should You Sell?

Key Points

• RB Global shares fell to a new 52-week low of $81.01, trading about 0.6% lower, with the stock well below its 50-day and 200-day moving averages.
• Despite recent downgrades to “hold,” analysts maintain a consensus “Moderate Buy” rating and an average price target of $128, substantially above the current price.
• The company exceeded quarterly earnings and revenue expectations and raised its quarterly dividend from $0.31 to $0.33 per share, resulting in a 1.6% yield.

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA's stock price hit a new 52-week low during 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 topic of a number of research analyst reports. Wall Street Zen cut RB Global from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. National Bank Financial lifted their price target on shares of RB Global from $132.00 to $133.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Zacks Research downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of RB Global in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.00.

RB Global Trading Down 0.6%

The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The firm has a 50-day moving average price of $99.13 and a 200 day moving average price of $101.91.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.21 billion. RB Global had a net margin of 9.99% and a return on equity of 12.37%. As a group, sell-side analysts forecast that RB Global, Inc. will post 4.06 EPS 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 issued a $0.33 dividend. 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. This represents a $1.32 annualized dividend and a yield of 1.6%. RB Global's dividend payout ratio is currently 56.65%.

Insider Buying and Selling

In related news, Director Chloe Harford purchased 1,200 shares of the company's stock in a transaction on Monday, August 24th. The shares were bought at an average cost of $83.74 per share, for a total transaction of $100,488.00. Following the transaction, the director owned 1,200 shares of the company's stock, valued at $100,488. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On RB Global

Several large investors have recently made changes to their positions in the business. Addison Advisors LLC acquired a new position in RB Global in the second quarter worth approximately $26,000. J.Safra Asset Management Corp acquired a new position in shares of RB Global in the 2nd quarter valued at $32,000. MV Capital Management Inc. purchased a new position in RB Global in the 4th quarter worth about $29,000. Integrated Wealth Concepts LLC acquired a new stake in RB Global during the 2nd quarter worth about $35,000. Finally, Bayban purchased a new position in shares of RB Global in the fourth quarter worth approximately $34,000. 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.

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