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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) was the target of a large decrease in short interest in 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. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 963,900 shares, the days-to-cover ratio is presently 4.2 days.

RB Global Trading Up 2.3 %

RB Global stock traded up $2.17 during midday trading on Monday, reaching $97.98. 3,031,246 shares of the stock traded hands, compared to its average volume of 1,010,038. The company has a 50-day simple moving average of $94.65 and a two-hundred day simple moving average of $90.53. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a market cap of $18.10 billion, a PE ratio of 48.75, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. RB Global has a 12-month low of $69.83 and a 12-month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.23). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same quarter in the previous year, the business posted $0.82 EPS. Research analysts expect 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 1.18%. The ex-dividend date was Friday, February 14th. RB Global’s payout ratio is presently 57.71%.

Analyst Upgrades and Downgrades

RBA has been the subject of a number of research analyst reports. Raymond James increased 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. BMO Capital Markets increased 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. Royal Bank of Canada raised their target price on RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Robert W. Baird raised their target price on RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, RB Global presently has an average rating of “Moderate Buy” and an average target price of $107.64.

Hedge Funds Weigh In On RB Global

Several hedge funds and other institutional investors have recently made changes to their positions in RBA. CoreCap Advisors LLC raised its position in shares of RB Global by 74.5% during 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 in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global during the 4th quarter worth about $27,000. Versant Capital Management Inc raised its position in shares of RB Global by 136.4% during the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after acquiring an additional 176 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of RB Global by 49.4% during 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 in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of RB Global during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.