RB Global (TSE:RBA) Reaches New 52-Week High - Time to Buy?

Key Points

• RB Global shares surged about 900% to a new 52-week high, trading as high as C$148.11 (last at C$146.28) after previously closing near C$14.53.
• Analysts are mixed with an average rating of “Moderate Buy” (one Buy, one Hold) and a consensus target of C$124.00, which is below the current trading level.
• The company authorized a C$500 million stock buyback (up to ~2% of shares); fundamentals show a market cap of C$27.01 billion, a PE of 71.22, and quarterly EPS of C$1.40 on C$1.23 billion revenue.

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

Analyst Upgrades and Downgrades

Separately, Stephens upgraded shares of RB Global to a "hold" rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, RB Global has an average rating of "Moderate Buy" and a consensus target price of C$124.00.

RB Global Trading Up 900.1%

The company has a debt-to-equity ratio of 91.08, a current ratio of 1.10 and a quick ratio of 1.00. The firm has a market capitalization of C$27.01 billion, a PE ratio of 71.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.27. The business's 50-day moving average price is C$138.45 and its 200-day moving average price is C$142.71.

RB Global (TSE:RBA - Get Free Report) NYSE: RBA last announced its earnings results on Monday, May 4th. The company reported C$1.40 earnings per share (EPS) for the quarter. RB Global had a net margin of 9.32% and a return on equity of 7.25%. The business had revenue of C$1.23 billion for the quarter. As a group, analysts expect that RB Global, Inc. will post 5.0577819 earnings per share for the current fiscal year.

RB Global announced that its Board of Directors has authorized a stock buyback program on Monday, March 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are 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.

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