RB Global (TSE:RBA) Rating Increased to Strong-Buy at Raymond James Financial

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

RBA has been the topic of several other reports. Barclays upgraded RB Global to a “strong-buy” rating in a research note on Thursday, May 28th. Stephens raised RB Global to a “hold” rating in a 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 issued a Hold rating to the company. According to MarketBeat, RB Global presently has a consensus rating of “Buy” and an average price target of C$124.00.

RB Global Price Performance

Shares of RB Global stock opened at C$165.11 on Tuesday. The firm has a fifty day moving average price of C$144.86 and a two-hundred day moving average price of C$144.44. RB Global has a fifty-two week low of C$129.44 and a fifty-two week high of C$166.51. 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 company has a market cap of C$30.76 billion, a PE ratio of 76.80, a price-to-earnings-growth ratio of 2.43 and a beta of 0.13.

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

RB Global declared that its Board of Directors has approved a share repurchase program on Monday, March 16th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership 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.