RB Global, Inc. (NYSE:RBA) Short Interest Down 30.6% in January

RB Global, Inc. (NYSE:RBA) (TSE:RBA) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,400,000 shares, a decline of 30.6% from the January 15th total of 4,900,000 shares. Based on an average daily volume of 874,400 shares, the short-interest ratio is currently 3.9 days. Approximately 1.9% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research firms have weighed in on RBA. Royal Bank of Canada lifted their price target on shares of RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets lifted their target price on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Robert W. Baird lifted their price objective on RB Global from $86.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, CIBC dropped their target price on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RB Global has an average rating of “Moderate Buy” and a consensus target price of $100.21.

RB Global Price Performance

NYSE RBA traded up $0.36 on Friday, hitting $96.28. 1,104,261 shares of the company were exchanged, compared to its average volume of 952,394. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 0.52. The company has a market cap of $17.79 billion, a P/E ratio of 52.33, a P/E/G ratio of 3.82 and a beta of 0.96. RB Global has a 1-year low of $65.99 and a 1-year high of $99.79. The firm has a 50 day moving average of $91.47 and a two-hundred day moving average of $87.73.

RB Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RBA. Central Pacific Bank Trust Division acquired a new stake in shares of RB Global in the 4th quarter valued at $27,000. Versant Capital Management Inc increased its position in RB Global by 136.4% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. Jones Financial Companies Lllp raised its holdings in 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 purchasing an additional 129 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in RB Global during the 4th quarter valued at about $36,000. Finally, Whipplewood Advisors LLC bought a new position in shares of RB Global in the 4th quarter valued at about $37,000. 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.