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

RB Global, Inc. (TSE:RBA) (NYSE:RBA)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$143.57 and traded as high as C$155.17. RB Global shares last traded at C$154.20, with a volume of 283,377 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stephens upgraded RB Global to a “hold” rating in a research report on Thursday, April 16th. Barclays upgraded shares of RB Global to a “strong-buy” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$124.00.

RB Global Price Performance

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 stock’s 50 day moving average price is C$142.78 and its two-hundred day moving average price is C$143.57. The firm has a market capitalization of C$28.73 billion, a price-to-earnings ratio of 71.72, a P/E/G ratio of 2.43 and a beta of 0.13.

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

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