RB Global (TSE:RBA) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of RB Global, Inc. (TSE:RBA) (NYSE:RBA) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$142.26 and traded as high as C$148.64. RB Global shares last traded at C$145.72, with a volume of 157,286 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stephens raised RB Global to a “hold” rating in a research note on Thursday, April 16th. Barclays raised RB Global to a “strong-buy” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, RB Global has a consensus rating of “Buy” and an average price target of C$124.00.

RB Global Stock Performance

The firm has a market capitalization of C$27.15 billion, a PE ratio of 67.78, a P/E/G ratio of 2.43 and a beta of 0.13. The company has a debt-to-equity ratio of 69.55, a current ratio of 1.14 and a quick ratio of 1.00. The firm has a fifty day moving average price of C$138.96 and a 200 day moving average price of C$142.26.

RB Global (TSE:RBA) (NYSE:RBA) last announced its earnings results on Monday, May 4th. The company reported C$1.40 EPS for the quarter. RB Global had a return on equity of 7.47% and a net margin of 9.53%.The business had revenue of C$1.23 billion during the quarter. Research analysts anticipate that RB Global, Inc. will post 5.0577819 earnings per share for the current fiscal year.

RB Global announced that its Board of Directors has approved a stock repurchase plan on Monday, March 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

RB Global Company Profile

Ritchie Bros. operates the world’s leading marketplace for heavy equipment. The company started as a live auctioneer of industrial equipment, since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. Ritchie Bros. operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms.