Ritchie Bros. Auctioneers’s Stock Is Buy After Today’s Huge Increase

 Ritchie Bros. Auctioneers's Stock Is Buy After Today's Huge Increase

The stock of Ritchie Bros. Auctioneers (TSE:RBA) is a huge mover today! About 28,393 shares traded hands. Ritchie Bros. Auctioneers (TSE:RBA) has risen 30.88% since March 31, 2016 and is uptrending. It has outperformed by 29.79% the S&P500.
The move comes after 5 months positive chart setup for the $4.93 billion company. It was reported on Nov, 4 by Barchart.com. We have $72.68 PT which if reached, will make TSE:RBA worth $2.81 billion more.

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 -43.83% below today’s ($46.29) stock price. Ritchie Bros. Auctioneers has been the topic of 3 analyst reports since August 11, 2016 according to StockzIntelligence Inc. RBC Capital Markets maintained Ritchie Bros. Auctioneers (TSE:RBA) on Tuesday, August 30 with “Outperform” rating. The rating was maintained by TD Securities on Tuesday, August 30 with “Reduce”. The stock of Ritchie Bros. Auctioneers (TSE:RBA) has “Reduce” rating given on Thursday, August 11 by TD Securities.

More notable recent Ritchie Bros. Auctioneers (TSE:RBA) news were published by: Reuters.com which released: “BRIEF-Ritchie Bros. Auctioneers on Oct 27 entered into a credit agreement” on November 02, 2016, also Streetinsider.com with their article: “Ritchie Bros. Auctioneers (RBA) to Acquire IronPlanet in $758.5M Deal” published on August 30, 2016, Forbes.com published: “Ritchie Bros Auctioneers Becomes Oversold” on August 09, 2016. More interesting news about Ritchie Bros. Auctioneers (TSE:RBA) were released by: Prnewswire.com and their article: “Ritchie Bros. Auctioneers to Host Third Quarter 2016 Earnings Conference Call …” published on October 27, 2016 as well as Thedenverchannel.com‘s news article titled: “Ritchie Bros. Auctioneers hosts 2nd largest auction ever at Colorado location” with publication date: June 08, 2016.

Ritchie Bros. Auctioneers Incorporated is a holding company. The company has a market cap of $4.93 billion. The Firm is an auctioneer of industrial equipment. It has a 27.4 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.TO 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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