RB Global (TSE:RBA) Upgraded by Raymond James Financial to “Strong-Buy” Rating

Raymond James Financial upgraded shares of RB Global (TSE:RBA) (NYSE:RBA) from a moderate buy rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other research firms also recently weighed in on RBA. Barclays raised RB Global to a “strong-buy” rating in a report on Thursday, May 28th. Stephens raised shares of RB Global to a “hold” rating in a research report on Thursday, April 16th. Two equities 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.com, RB Global currently has an average rating of “Buy” and a consensus target price of C$124.00.

RB Global Price Performance

RB Global stock opened at C$165.11 on Tuesday. The company has a market capitalization of C$30.76 billion, a price-to-earnings ratio of 76.80, a PEG ratio of 2.43 and a beta of 0.13. The company has a current ratio of 1.14, a quick ratio of 0.99 and a debt-to-equity ratio of 69.55. RB Global has a 12 month low of C$129.44 and a 12 month high of C$166.51. The stock’s 50 day moving average is C$144.86 and its 200-day moving average is C$144.44.

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

RB Global announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management 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.