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 the month of 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. Currently, 3.3% of the shares of the company are sold short. Based on an average daily volume of 938,500 shares, the short-interest ratio is currently 6.4 days.

Wall Street Analyst Weigh In

A number of research firms recently commented on RBA. BMO Capital Markets lifted 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. Royal Bank of Canada lifted their price objective on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James increased their price objective 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. Robert W. Baird raised their target price on shares of RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com lowered shares of RB Global from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two investment 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.64.

Institutional Investors Weigh In On RB Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in RB Global by 1.5% during the fourth 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 in the last quarter. Vontobel Holding Ltd. raised its position in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after purchasing an additional 753,700 shares during the last quarter. State Street Corp lifted its stake in RB Global by 2.1% in the 3rd 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 boosted its holdings in 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 worth $357,434,000 after buying an additional 264,778 shares during the last quarter. Finally, Janus Henderson Group PLC increased 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 buying an additional 19,895 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

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 company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. The firm’s fifty day moving average is $92.86 and its 200 day moving average is $89.41. The firm has a market cap of $18.98 billion, a PE ratio of 51.10, a P/E/G ratio of 4.95 and a beta of 0.96.

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 for the quarter, compared to analyst estimates 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 last year, the business earned $0.82 earnings per share. On average, research analysts forecast that RB Global will post 2.5 EPS for the current year.

RB Global Dividend Announcement

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