RB Global (TSE:RBA) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

RB Global, Inc. (TSE:RBA) (NYSE:RBA) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$146.22 and traded as high as C$157.83. RB Global shares last traded at C$157.44, with a volume of 148,678 shares trading hands.

Wall Street Analysts Forecast Growth

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

RB Global Stock Up 2.4%

The firm has a 50 day simple moving average of C$152.81 and a 200-day simple moving average of C$146.22. The stock has a market capitalization of C$29.33 billion, a price-to-earnings ratio of 73.23, a price-to-earnings-growth ratio of 2.43 and a beta of 0.05. The company has a debt-to-equity ratio of 69.55, a current ratio of 1.14 and a quick ratio of 0.99.

RB Global (TSE:RBA) (NYSE:RBA) last issued 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 9.53% and a return on equity of 7.47%. The company had revenue of C$1.23 billion for the quarter. On average, sell-side analysts forecast that RB Global, Inc. will post 5.0577819 EPS for the current fiscal year.

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.