RB Global (TSE:RBA) Reaches New 1-Year High – Should You Buy?

RB Global, Inc. (TSE:RBA) (NYSE:RBA) shares hit a new 52-week high during trading on Friday . The stock traded as high as C$164.85 and last traded at C$164.45, with a volume of 14274 shares traded. The stock had previously closed at C$163.96.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stephens upgraded shares of RB Global to a “hold” rating in a research report on Thursday, April 16th. Barclays raised RB Global to a “strong-buy” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$124.00.

RB Global Trading Down 0.2%

The business’s 50-day simple moving average is C$143.58 and its 200-day simple moving average is C$143.92. The company has a market cap of C$30.47 billion, a PE ratio of 76.07, a P/E/G ratio of 2.43 and a beta of 0.13. The company has a current ratio of 1.14, a quick ratio of 0.99 and a debt-to-equity ratio of 69.55.

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