The stock of Ritchie Bros. Auctioneers (TSE:RBA) is a huge mover today! About 24,660 shares traded hands. Ritchie Bros. Auctioneers (TSE:RBA) has risen 42.93% since March 10, 2016 and is uptrending. It has outperformed by 37.32% the S&P500.
The move comes after 5 months negative chart setup for the $4.90 billion company. It was reported on Oct, 17 by Barchart.com. We have $42.97 PT which if reached, will make TSE:RBA worth $343.00 million less.
Ritchie Bros. Auctioneers (TSE:RBA) Ratings Coverage
Out of 2 analysts covering Ritchie Bros. Auctioneers (TSE:RBA), 1 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 50% are positive. $26 is the highest target while $26 is the lowest. The $26 average target is -43.72% below today’s ($46.2) stock price. Ritchie Bros. Auctioneers has been the topic of 3 analyst reports since August 11, 2016 according to StockzIntelligence Inc. The rating was maintained by TD Securities on Tuesday, August 30 with “Reduce”. On Thursday, August 11 the stock rating was maintained by TD Securities with “Reduce”. The company was maintained on Tuesday, August 30 by RBC Capital Markets.
More notable recent Ritchie Bros. Auctioneers (TSE:RBA) news were published by: Fool.ca which released: “Ritchie Bros. Auctioneers Inc.: 1 Key Metric You Need to Know” on October 17, 2016, also Forbes.com with their article: “Ritchie Bros Auctioneers Becomes Oversold” published on August 09, 2016, Streetinsider.com published: “Ritchie Bros. Auctioneers (RBA) to Acquire IronPlanet in $758.5M Deal” on August 30, 2016. More interesting news about Ritchie Bros. Auctioneers (TSE:RBA) were released by: Fool.com and their article: “Ritchie Bros. Auctioneers Posts Strong Q1, and Growth Story Remains Appealing” published on May 11, 2016 as well as Fool.com‘s news article titled: “Is Ritchie Bros. Auctioneers Incorporated Stock a Buy Right Now?” with publication date: May 07, 2016.
Ritchie Bros. Auctioneers Incorporated is a holding company. The company has a market cap of $4.90 billion. The Firm is an auctioneer of industrial equipment. It has a 27.87 P/E ratio. The Firm is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.
RBA Company Profile
Ritchie Bros. Auctioneers Incorporated, incorporated on December 12, 1997, is a holding company. The Firm is an auctioneer of industrial equipment. The Firm is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces. The Firm focuses on the sale of heavy machinery. The Firm operates through two divisions: Core Auction segment and EquipmentOne segment. Core Auction segment offers a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding. EquipmentOne segment is an online marketplace that facilitates private equipment transactions. The Firm sells equipment through unreserved auctions at approximately 40 auction sites across the world. The majority of the assets sold through the Company’s sales channels are classified as construction machinery. The Firm operates in over 15 countries across the world. The Company’s multi-channel sales solutions allow sellers to choose the method of sale based on their needed degree of control.
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