RB Global (TSE:RBA) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

RB Global, Inc. (TSE:RBA) (NYSE:RBA) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$142.83 and traded as high as C$154.66. RB Global shares last traded at C$154.41, with a volume of 158,253 shares.

Analysts Set New Price Targets

RBA has been the subject of several research 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 investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, RB Global presently has an average rating of “Buy” and an average target price of C$124.00.

RB Global Stock Up 2.6%

The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 69.55. The firm has a market cap of C$28.77 billion, a price-to-earnings ratio of 71.82, a PEG ratio of 2.43 and a beta of 0.13. The firm has a 50-day moving average of C$140.79 and a two-hundred day moving average of C$142.83.

RB Global (TSE:RBA) (NYSE:RBA) last posted its quarterly earnings data on Monday, May 4th. The company reported C$1.40 earnings per share for the quarter. RB Global had a return on equity of 7.47% and a net margin of 9.53%.The business had revenue of C$1.23 billion during the quarter. As a group, sell-side analysts predict 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 initiated a stock repurchase plan on Monday, March 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is 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.