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

Key Points

• RB Global's stock has recently crossed above its 200-day moving average of C$144.70, reaching a high of C$161.62 before settling at C$159.55.
• National Bank Financial has downgraded RB Global from a "strong-buy" rating to a "hold" rating, indicating a shift in market perception.
• The company's current market capitalization stands at C$20.61 billion with a P/E ratio of 70.10, suggesting that the stock may be overvalued relative to its earnings.

RB Global, Inc. (TSE:RBA - Get Free Report) NYSE: RBA's stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$144.70 and traded as high as C$161.62. RB Global shares last traded at C$159.55, with a volume of 207,244 shares changing hands.

Wall Street Analyst Weigh In

Separately, National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, RB Global presently has an average rating of "Buy".

RB Global Stock Performance

The stock has a market capitalization of C$20.61 billion, a P/E ratio of 70.10, a P/E/G ratio of 2.43 and a beta of 0.93. The company's 50-day moving average is C$150.77 and its two-hundred day moving average is C$144.70. 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.

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