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

Shares of RB Global, Inc. (TSE:RBA) (NYSE:RBA) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$146.22 and traded as high as C$157.83. RB Global shares last traded at C$157.44, with a volume of 148,678 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays raised shares of RB Global to a “strong-buy” rating in a research note on Thursday, May 28th. Stephens raised shares of RB Global to a “hold” rating in a research note on Thursday, April 16th. Finally, 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 objective for the company in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$134.50.

RB Global Price Performance

The firm has a market capitalization of C$29.33 billion, a P/E ratio of 73.23, a price-to-earnings-growth ratio of 2.43 and a beta of 0.05. The firm has a 50 day moving average price of C$152.81 and a 200-day moving average price of C$146.22. 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 (TSE:RBA) (NYSE:RBA) last released its earnings results on Monday, May 4th. The company reported C$1.40 earnings per share for the quarter. RB Global had a return on equity of 7.47% and a net margin of 9.53%.The firm had revenue of C$1.23 billion for the quarter. On average, analysts expect that RB Global, Inc. will post 5.0577819 earnings per share for the current year.

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.