RB Global (TSE:RBA) Upgraded by Raymond James Financial to Strong-Buy Rating

RB Global (TSE:RBA) (NYSE:RBA) was upgraded by investment analysts at Raymond James Financial from a “moderate buy” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

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

RB Global Trading Up 2.1%

Shares of RBA opened at C$165.11 on Tuesday. The stock has a fifty day moving average price of C$144.86 and a two-hundred day moving average price of C$144.44. The company has a debt-to-equity ratio of 69.55, a quick ratio of 0.99 and a current ratio of 1.14. The company has a market cap of C$30.76 billion, a price-to-earnings ratio of 76.80, a PEG ratio of 2.43 and a beta of 0.13. RB Global has a 52-week low of C$129.44 and a 52-week high of C$166.51.

RB Global (TSE:RBA) (NYSE:RBA) last announced its earnings results 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 company had revenue of C$1.23 billion during the quarter. Analysts predict that RB Global will post 5.0577819 EPS for the current fiscal year.

RB Global announced that its Board of Directors has authorized a stock buyback program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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.