RB Global (TSE:RBA) Stock Passes Below 200 Day Moving Average – Here’s What Happened

RB Global, Inc. (TSE:RBA) (NYSE:RBA) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$145.48 and traded as low as C$131.42. RB Global shares last traded at C$134.58, with a volume of 221,072 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial set a C$124.00 target price on shares of RB Global and gave the stock an “outperform” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, RB Global has a consensus rating of “Buy” and an average price target of C$124.00.

RB Global Stock Up 1.4%

The company has a debt-to-equity ratio of 91.08, a current ratio of 1.10 and a quick ratio of 1.00. The company has a market capitalization of C$25.02 billion, a price-to-earnings ratio of 65.97, a PEG ratio of 2.43 and a beta of 0.24. The firm has a 50-day moving average price of C$145.70 and a two-hundred day moving average price of C$145.48.

RB Global (TSE:RBA) (NYSE:RBA) last announced its earnings results on Tuesday, February 17th. The company reported C$1.52 earnings per share (EPS) for the quarter. The business had revenue of C$1.58 billion for the quarter. RB Global had a return on equity of 7.25% and a net margin of 9.32%. As a group, sell-side analysts anticipate that RB Global, Inc. will post 5.0577819 earnings per share for the current fiscal year.

RB Global declared that its Board of Directors has authorized a stock repurchase program on Monday, March 16th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are 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.