RB Global, Inc. (NYSE:RBA) Short Interest Update

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RBA. CIBC lowered 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. Robert W. Baird upped their target price on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their target price on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James upped their target price on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets upped their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.64.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of RB Global by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock worth $3,674,000 after acquiring an additional 113 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock worth $25,000 after acquiring an additional 117 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock worth $35,000 after acquiring an additional 129 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of RB Global by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock worth $279,000 after acquiring an additional 137 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of RB Global by 25.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after acquiring an additional 143 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Stock Performance

RB Global stock traded up $2.17 during mid-day trading on Monday, hitting $97.98. The company had a trading volume of 3,031,246 shares, compared to its average volume of 1,010,038. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global has a 12-month low of $69.83 and a 12-month high of $106.90. The company’s fifty day moving average is $94.65 and its 200-day moving average is $90.53. The company has a market capitalization of $18.10 billion, a price-to-earnings ratio of 48.75, a P/E/G ratio of 4.95 and a beta of 0.94.

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

RB Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio is currently 57.71%.

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.