RB Global (TSE:RBA) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• RB Global's shares have surpassed their 200-day moving average of C$143.52, reaching a peak of C$160.91 during trading.
• National Bank Financial downgraded RB Global from a "strong-buy" to a "hold" rating, though the stock still holds a consensus rating of "Buy" among analysts.
• The company operates over 40 live auction sites globally, facilitating the sale of heavy equipment across various industries.

Shares of RB Global, Inc. (TSE:RBA - Get Free Report) NYSE: RBA passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$143.52 and traded as high as C$160.91. RB Global shares last traded at C$159.31, with a volume of 186,946 shares trading hands.

Analyst Upgrades and Downgrades

Separately, National Bank Financial lowered shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy".

RB Global Stock Performance

The firm has a market cap of C$20.61 billion, a price-to-earnings ratio of 70.07, a price-to-earnings-growth ratio of 2.43 and a beta of 0.93. The stock's 50 day moving average is C$150.11 and its 200 day moving average is C$144.49. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 74.28.

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.