RB Global (TSE:RBA) Reaches New 12-Month High – What’s Next?

Shares of RB Global, Inc. (TSE:RBA) (NYSE:RBA) hit a new 52-week high during trading on Friday . The company traded as high as C$164.85 and last traded at C$164.45, with a volume of 14274 shares trading hands. The stock had previously closed at C$163.96.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stephens upgraded shares of 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 report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$124.00.

RB Global Trading Down 0.2%

The business has a fifty day moving average price of C$144.00 and a 200-day moving average price of C$144.05. The company has a quick ratio of 0.99, a current ratio of 1.14 and a debt-to-equity ratio of 69.55. The company has a market cap of C$30.48 billion, a P/E ratio of 76.10, a PEG ratio of 2.43 and a beta of 0.13.

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

RB Global declared that its board has authorized a stock repurchase program on Monday, March 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About RB Global

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.