RB Global (TSE:RBA) Trading Down 14.1% – Here’s Why

RB Global, Inc. (TSE:RBA) (NYSE:RBA)’s stock price fell 14.1% on Wednesday . The company traded as low as C$132.11 and last traded at C$134.10. 491,026 shares traded hands during trading, an increase of 97% from the average daily volume of 249,047 shares. The stock had previously closed at C$156.06.

Analysts Set New Price Targets

A number of research firms have commented on RBA. Barclays upgraded shares of RB Global to a “strong-buy” rating in a research note on Thursday, May 28th. Raymond James Financial upgraded shares of RB Global from a “moderate buy” rating to a “strong-buy” rating and set a C$145.00 target price for the company in a report on Tuesday, June 30th. Finally, Stephens raised RB Global to a “hold” rating in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$134.50.

RB Global Stock Performance

The stock has a market capitalization of C$25.27 billion, a price-to-earnings ratio of 63.09, a price-to-earnings-growth ratio of 2.43 and a beta of 0.03. The company has a debt-to-equity ratio of 69.55, a current ratio of 1.14 and a quick ratio of 0.99. The stock has a 50-day moving average of C$154.87 and a 200 day moving average of C$146.59.

RB Global (TSE:RBA) (NYSE:RBA) last announced its quarterly earnings data on Monday, May 4th. The company reported C$1.40 earnings per share (EPS) for the quarter. The firm 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%. On average, analysts expect that RB Global, Inc. will post 5.0577819 EPS for the current year.

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.