RB Global (TSE:RBA) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• RB Global's stock crossed above its 200-day moving average, trading as high as C$151.09 and last at C$145.28 on volume of about 294,000 shares, signaling a technical breakout.
• The board authorized a C$500 million share repurchase (up to ~2% of outstanding shares), a move often interpreted as a signal that management views the stock as undervalued.
• Recent quarterly results showed C$1.40 EPS on C$1.23 billion revenue, but valuation is rich with a PE of 71.22; analysts rate the stock a "Moderate Buy" on average while the consensus price target (C$124.00) sits below the current share price.

RB Global, Inc. (TSE:RBA - Get Free Report) NYSE: RBA's stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$142.71 and traded as high as C$151.09. RB Global shares last traded at C$145.28, with a volume of 293,925 shares trading hands.

Wall Street Analyst Weigh In

Separately, Stephens upgraded RB Global to a "hold" rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, RB Global has an average rating of "Moderate Buy" and an average price target of C$124.00.

RB Global Stock Up 1.5%

The stock has a market cap 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 company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 91.08. The business has a 50-day moving average price of C$138.45 and a 200-day moving average price of C$142.71.

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

RB Global declared that its Board of Directors has authorized a share repurchase plan on Monday, March 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

RB Global Company Profile

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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