RB Global (NYSE:RBA) Sets New 1-Year Low - What's Next?

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA reached a new 52-week low during mid-day trading 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.

Analyst Upgrades and Downgrades

RBA has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of RB Global from $150.00 to $152.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. National Bank Financial upped their price objective on shares of RB Global from $132.00 to $133.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Barclays reduced their price objective on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Zacks Research raised shares of RB Global from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 3rd. Finally, Raymond James Financial upgraded RB Global from an "outperform" rating to a "strong-buy" rating and set a $145.00 target price on the stock in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, RB Global currently has a consensus rating of "Buy" and a consensus price target of $128.00.

RB Global Trading Down 4.5%

The firm has a 50 day moving average of $108.89 and a 200 day moving average of $105.86. The firm has a market cap of $16.60 billion, a PE ratio of 38.47, a P/E/G ratio of 1.56 and a beta of 0.56. The company has a quick ratio of 1.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its earnings results on Tuesday, August 4th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.21 billion. RB Global had a return on equity of 12.37% and a net margin of 9.99%. Equities analysts anticipate that RB Global, Inc. will post 4.16 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 issued a $0.33 dividend. This is an increase from RB Global's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 1.5%. RB Global's payout ratio is 53.22%.

Insiders Place Their Bets

In other news, Director Deborah Stein acquired 425 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director owned 1,825 shares of the company's stock, valued at approximately $188,248.75. The trade was a 30.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On RB Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBA. AQR Capital Management LLC lifted its stake in shares of RB Global by 94.3% during the 1st quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider's stock valued at $1,031,000 after buying an additional 5,090 shares in the last quarter. NewEdge Advisors LLC grew its stake in RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider's stock valued at $59,000 after buying an additional 204 shares in the last quarter. Jones Financial Companies Lllp grew its stake in RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider's stock valued at $375,000 after buying an additional 3,346 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in RB Global by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider's stock valued at $33,940,000 after buying an additional 88,813 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in RB Global during the 1st quarter valued at $4,103,000. 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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