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

RB Global, Inc. (TSE:RBA) (NYSE:RBA) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Analysts Set New Price Targets

RBA has been the topic of several analyst reports. Barclays raised RB Global to a “strong-buy” rating in a research report on Thursday, May 28th. Stephens raised RB Global to a “hold” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$124.00.

RB Global Stock Performance

The company has a market cap of C$27.15 billion, a P/E ratio of 67.78, a PEG ratio of 2.43 and a beta of 0.13. The company has a 50 day moving average price of C$138.96 and a 200-day moving average price of C$142.26. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 69.55.

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

RB Global announced that its Board of Directors has approved a stock buyback program on Monday, March 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors 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.