RB Global (TSE:RBA) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

RB Global, Inc. (TSE:RBA) (NYSE:RBA)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$142.83 and traded as high as C$154.66. RB Global shares last traded at C$154.41, with a volume of 158,253 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RBA. Barclays upgraded RB Global to a “strong-buy” rating in a research report on Thursday, May 28th. Stephens upgraded RB Global to a “hold” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$124.00.

RB Global Stock Down 2.3%

The firm’s 50 day simple moving average is C$141.46 and its 200 day simple moving average is C$143.06. The company has a market cap of C$28.23 billion, a price-to-earnings ratio of 70.49, a price-to-earnings-growth ratio of 2.43 and a beta of 0.13. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 69.55.

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

RB Global announced that its Board of Directors has approved a stock repurchase plan on Monday, March 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.