RB Global (TSE:RBA) Share Price Crosses Above 200 Day Moving Average – Here’s Why

RB Global, Inc. (TSE:RBA) (NYSE:RBA) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$141.86 and traded as high as C$143.72. RB Global shares last traded at C$141.52, with a volume of 197,726 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Stephens upgraded shares of RB Global to a “hold” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$124.00.

RB Global Price Performance

The firm’s 50-day moving average is C$136.51 and its 200-day moving average is C$141.86. 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 company has a market capitalization of C$26.37 billion, a P/E ratio of 65.82, a price-to-earnings-growth ratio of 2.43 and a beta of 0.27.

RB Global (TSE:RBA) (NYSE:RBA) last announced its earnings results on Monday, May 4th. The company reported C$1.40 earnings per share (EPS) for the quarter. The company had revenue of C$1.23 billion during the quarter. RB Global had a net margin of 9.53% and a return on equity of 7.47%. Analysts predict 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 repurchase plan on Monday, March 16th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management 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.