RB Global (TSE:RBA) Shares Down 14.1% – Here’s Why

Shares of RB Global, Inc. (TSE:RBA) (NYSE:RBA) were down 14.1% during trading on Wednesday . The company traded as low as C$132.11 and last traded at C$134.10. Approximately 491,026 shares were traded during trading, an increase of 97% from the average session volume of 249,047 shares. The stock had previously closed at C$156.06.

Analyst Ratings Changes

A number of analysts have commented on RBA shares. Barclays raised RB Global to a “strong-buy” rating in a report on Thursday, May 28th. Raymond James Financial raised RB Global from a “moderate buy” rating to a “strong-buy” rating and set a C$145.00 price objective on the stock in a research note on Tuesday, June 30th. Finally, Stephens upgraded RB Global to a “hold” rating in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$134.50.

RB Global Stock Performance

The firm has a market capitalization of C$25.27 billion, a price-to-earnings ratio of 63.09, a P/E/G ratio of 2.43 and a beta of 0.03. The company has a quick ratio of 0.99, a current ratio of 1.14 and a debt-to-equity ratio of 69.55. The business has a 50-day moving average price of C$154.87 and a 200-day moving average price of C$146.59.

RB Global (TSE:RBA) (NYSE:RBA) last posted its quarterly earnings results on Monday, May 4th. The company reported C$1.40 earnings per share for the quarter. RB Global had a net margin of 9.53% and a return on equity of 7.47%. The firm had revenue of C$1.23 billion for the quarter. As a group, sell-side analysts forecast that RB Global, Inc. will post 5.0577819 earnings per share for the current year.

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.