RB Global, Inc. (NYSE:RBA) Short Interest Up 77.4% in February

RB Global, Inc. (NYSE:RBA) (TSE:RBA) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 6,030,000 shares, a growth of 77.4% from the January 31st total of 3,400,000 shares. Based on an average daily trading volume, of 938,500 shares, the days-to-cover ratio is presently 6.4 days. Approximately 3.3% of the shares of the stock are short sold.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RBA shares. Raymond James raised their price target on shares of RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. BMO Capital Markets raised their target price on shares of RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com lowered RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada lifted their price objective on RB Global from $107.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, CIBC lowered their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.64.

Institutional Investors Weigh In On RB Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in RB Global by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 24,916,629 shares of the business services provider’s stock valued at $2,248,060,000 after purchasing an additional 358,752 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of RB Global by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after buying an additional 753,700 shares during the period. State Street Corp grew its stake in shares of RB Global by 2.1% in the third quarter. State Street Corp now owns 5,045,188 shares of the business services provider’s stock valued at $406,087,000 after buying an additional 103,080 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RB Global by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,967,159 shares of the business services provider’s stock valued at $357,434,000 after buying an additional 264,778 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in RB Global by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,403,086 shares of the business services provider’s stock worth $307,033,000 after acquiring an additional 19,895 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

RB Global Stock Up 0.3 %

RBA stock opened at $102.72 on Tuesday. RB Global has a one year low of $69.83 and a one year high of $106.90. The firm has a market cap of $18.98 billion, a PE ratio of 51.10, a PEG ratio of 4.95 and a beta of 0.96. The firm’s 50 day moving average price is $92.86 and its 200-day moving average price is $89.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29.

RB Global (NYSE:RBA) (TSE:RBA) last posted its 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). The business 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 prior year, the firm earned $0.82 EPS. On average, equities research analysts anticipate that RB Global will post 2.5 EPS for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, February 14th. RB Global’s dividend payout ratio is presently 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.