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

RB Global, Inc. (TSE:RBA) (NYSE:RBA)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

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

RB Global Price Performance

The stock 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 debt-to-equity ratio of 69.55, a current ratio of 1.14 and a quick ratio of 1.00. The firm has a market cap of C$27.15 billion, a price-to-earnings ratio of 67.78, a PEG ratio of 2.43 and a beta of 0.13.

RB Global (TSE:RBA) (NYSE:RBA) last posted its earnings results on Monday, May 4th. The company reported C$1.40 EPS 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 for the quarter. As a group, equities research analysts forecast that RB Global, Inc. will post 5.0577819 earnings per share for the current fiscal year.

RB Global announced that its board has approved a share 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 reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board 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.