RB Global (TSE:RBA) Stock Price Down 14.1% – What’s Next?

RB Global, Inc. (TSE:RBA) (NYSE:RBA) traded down 14.1% during mid-day trading on Wednesday . The stock traded as low as C$132.11 and last traded at C$134.10. Approximately 491,026 shares changed hands during mid-day trading, an increase of 97% from the average daily volume of 249,047 shares. The stock had previously closed at C$156.06.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Raymond James Financial raised shares of RB Global from a “moderate buy” rating to a “strong-buy” rating and set a C$145.00 price objective for the company in a report on Tuesday, June 30th. Barclays raised shares of RB Global to a “strong-buy” rating in a report on Thursday, May 28th. Finally, Stephens upgraded RB Global to a “hold” rating in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$134.50.

RB Global Stock Performance

The company’s 50-day moving average is C$154.36 and its two-hundred day moving average is C$146.25. The company has a market capitalization of C$24.51 billion, a P/E ratio of 57.05, a PEG ratio of 2.43 and a beta of 0.03. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 74.64.

RB Global (TSE:RBA) (NYSE:RBA) last announced its earnings results on Monday, May 4th. The company reported C$1.40 earnings per share (EPS) for the quarter. RB Global had a net margin of 9.97% and a return on equity of 8.00%. The business had revenue of C$1.23 billion during the quarter. Equities analysts anticipate that RB Global, Inc. will post 5.0577819 earnings per share for the current fiscal year.

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.