RB Global (TSE:RBA) Sets New 1-Year High – Here’s What Happened

RB Global, Inc. (TSE:RBA) (NYSE:RBA) hit a new 52-week high on Wednesday . The stock traded as high as C$148.11 and last traded at C$146.28, with a volume of 8631 shares changing hands. The stock had previously closed at C$14.53.

Analyst Upgrades and Downgrades

Separately, Stephens upgraded RB Global to a “hold” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, RB Global presently has a consensus rating of “Moderate Buy” and a consensus price target of C$124.00.

RB Global Price Performance

The company has a debt-to-equity ratio of 69.55, a quick ratio of 1.00 and a current ratio of 1.14. The firm has a market capitalization of C$26.39 billion, a price-to-earnings ratio of 65.90, a price-to-earnings-growth ratio of 2.43 and a beta of 0.27. The business has a fifty day moving average of C$136.21 and a two-hundred day moving average of C$141.83.

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

RB Global announced that its board has initiated a share repurchase program on Monday, March 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication 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.