RB Global (TSE:RBA) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• RB Global (TSE:RBA) has moved above its 200-day moving average, trading as high as C$148.50 and last at C$147.02 versus a 200-day MA of C$142.79 on volume of 253,140 shares.
• Board-approved $500 million buyback (up to ~2% of shares) was announced in March, signaling management believes the stock may be undervalued.
• Analyst sentiment is mixed—Stephens recently upgraded to Hold and the consensus is a “Moderate Buy” with an average price target of C$124—while valuation metrics show a market cap of C$27.33B and a high P/E of 72.07.

RB Global, Inc. (TSE:RBA - Get Free Report) NYSE: RBA passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$142.79 and traded as high as C$148.50. RB Global shares last traded at C$147.02, with a volume of 253,140 shares traded.

Wall Street Analysts Forecast Growth

Separately, Stephens upgraded RB Global to a "hold" rating in a report on Thursday, April 16th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$124.00.

RB Global Stock Up 0.7%

The firm has a market capitalization of C$27.33 billion, a price-to-earnings ratio of 72.07, a PEG ratio of 2.43 and a beta of 0.27. The stock has a fifty day moving average of C$138.39 and a 200-day moving average of C$142.79. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 91.08.

RB Global (TSE:RBA - Get Free Report) NYSE: RBA last issued its earnings results on Tuesday, February 17th. The company reported C$1.52 EPS for the quarter. The business had revenue of C$1.58 billion during the quarter. RB Global had a return on equity of 7.25% and a net margin of 9.32%. As a group, sell-side analysts expect that RB Global, Inc. will post 5.0577819 EPS for the current year.

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