Q: What are your thoughts on RB Global prospects in the current environment given trade war and recession themes?
5i Research Answer:
RBA has been through the 2008 global recession as well as all recessions since then, and since its inception in early 2004 it has exhibited a strong 14.8% total annualized return. Management knows how to navigate market and economic turbulence, and its growth metrics have been moving in the right direction, it has a good cash balance of $534M, a strong balance sheet, and reasonable debt levels. We would be comfortable holding or buying RBA here.