RB Global, Inc. (NYSE:RBA) Short Interest Down 33.2% in February

RB Global, Inc. (NYSE:RBA) (TSE:RBA) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 4,030,000 shares, a decline of 33.2% from the February 13th total of 6,030,000 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 963,900 shares, the days-to-cover ratio is presently 4.2 days.

Institutional Trading of RB Global

Several hedge funds have recently modified their holdings of the stock. Central Pacific Bank Trust Division purchased a new position in RB Global in the fourth quarter valued at $27,000. CIBC Asset Management Inc grew its holdings in shares of RB Global by 57.1% during the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock worth $80,076,000 after purchasing an additional 357,761 shares during the last quarter. Diversified Trust Co grew its holdings in shares of RB Global by 48.9% during the fourth quarter. Diversified Trust Co now owns 63,119 shares of the business services provider’s stock worth $5,694,000 after purchasing an additional 20,724 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of RB Global by 53.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,695 shares of the business services provider’s stock worth $4,805,000 after purchasing an additional 20,795 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in shares of RB Global by 163.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 645 shares of the business services provider’s stock worth $58,000 after purchasing an additional 400 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBA has been the subject of several analyst reports. Robert W. Baird boosted their price objective on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their price target on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. CIBC reduced their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. BMO Capital Markets upped their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Raymond James upped their price target on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

RB Global Trading Up 1.5 %

RBA traded up $1.38 during trading hours on Friday, reaching $95.81. The company’s stock had a trading volume of 1,951,696 shares, compared to its average volume of 1,080,465. RB Global has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The stock has a market cap of $17.70 billion, a PE ratio of 47.66, a P/E/G ratio of 4.95 and a beta of 0.94. The business’s 50-day moving average is $94.45 and its 200-day moving average is $90.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.17.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company earned $0.82 earnings per share. As a group, equities research analysts predict that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is currently 57.71%.

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.