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

RB Global, Inc. (NYSE:RBA) (TSE:RBA) was the target of a large decrease in short interest in 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 short-interest ratio is currently 4.2 days. Approximately 2.2% of the shares of the company are sold short.

Institutional Investors Weigh In On RB Global

Several hedge funds have recently modified their holdings of RBA. Covestor Ltd grew its position in RB Global by 533.1% during the third quarter. Covestor Ltd now owns 804 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 677 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of RB Global by 16.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,496 shares of the business services provider’s stock worth $1,087,000 after purchasing an additional 1,927 shares during the period. Wolverine Asset Management LLC increased its position in RB Global by 379.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 1,011 shares of the business services provider’s stock worth $81,000 after purchasing an additional 800 shares in the last quarter. CIBC Asset Management Inc raised its holdings in RB Global by 57.1% in the third quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after buying an additional 357,761 shares during the period. Finally, Natixis Advisors LLC purchased a new position in RB Global in the third quarter valued at approximately $897,000. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Price Performance

RBA stock traded up $1.38 during trading on Friday, hitting $95.81. The stock had a trading volume of 1,951,696 shares, compared to its average volume of 1,080,465. RB Global has a 1-year low of $69.83 and a 1-year high of $106.90. The stock has a market cap of $17.70 billion, a price-to-earnings ratio of 47.66, a price-to-earnings-growth ratio of 4.95 and a beta of 0.94. The company’s 50 day moving average price is $94.45 and its two-hundred day moving average price is $90.32. 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 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). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. RB Global had a return on equity of 8.00% and a net margin of 9.64%. During the same quarter last year, the business posted $0.82 EPS. On average, sell-side analysts forecast that RB Global will post 2.5 EPS for the current fiscal year.

RB Global Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank of Canada increased 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. CIBC cut their price objective on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. StockNews.com cut RB Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Raymond James increased their price objective on RB Global from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets increased their price objective on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, RB Global has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

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.