RB Global (TSE:RBA) Stock Passes Above 200 Day Moving Average – Here’s Why

RB Global, Inc. (TSE:RBA) (NYSE:RBA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$146.59 and traded as high as C$157.86. RB Global shares last traded at C$156.06, with a volume of 260,952 shares.

Analysts Set New Price Targets

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

RB Global Stock Performance

The company has a debt-to-equity ratio of 69.55, a quick ratio of 0.99 and a current ratio of 1.14. The stock has a market cap of C$24.21 billion, a PE ratio of 60.44, a P/E/G ratio of 2.43 and a beta of 0.03. The business’s fifty day moving average price is C$154.36 and its 200-day moving average price is C$146.25.

RB Global (TSE:RBA) (NYSE:RBA) last posted its earnings results on Monday, May 4th. The company reported C$1.40 earnings per share 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%. As a group, equities research analysts forecast that RB Global, Inc. will post 5.0577819 EPS for the current fiscal year.

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.