RB Global (TSE:RBA) Stock Passes Below 200 Day Moving Average – Here’s What Happened

RB Global, Inc. (TSE:RBA) (NYSE:RBA)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$145.48 and traded as low as C$131.42. RB Global shares last traded at C$134.58, with a volume of 221,072 shares traded.

Analyst Ratings Changes

Separately, National Bank Financial set a C$124.00 target price on shares of RB Global and gave the stock an “outperform” rating in a research note on Monday, December 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, RB Global has a consensus rating of “Buy” and an average target price of C$124.00.

RB Global Stock Up 1.4%

The firm has a 50 day moving average price of C$145.70 and a 200-day moving average price of C$145.48. The firm has a market cap of C$25.02 billion, a price-to-earnings ratio of 65.97, a price-to-earnings-growth ratio of 2.43 and a beta of 0.24. The company has a debt-to-equity ratio of 91.08, a current ratio of 1.10 and a quick ratio of 1.00.

RB Global (TSE:RBA) (NYSE:RBA) last announced its quarterly earnings data on Tuesday, February 17th. The company reported C$1.52 EPS for the quarter. RB Global had a return on equity of 7.25% and a net margin of 9.32%.The firm had revenue of C$1.58 billion during the quarter. As a group, equities 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 approved 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 reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board 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.