The stock of Ritchie Bros. Auctioneers (TSE:RBA) hit a new 52-week high and has $60.89 target or 22.00% above today’s $49.91 share price. The 5 months bullish chart indicates low risk for the $5.61B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $60.89 price target is reached, the company will be worth $1.23B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 5,322 shares traded hands. Ritchie Bros. Auctioneers (TSE:RBA) has risen 42.41% since April 7, 2016 and is uptrending. It has outperformed by 36.27% the S&P500.
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 -47.91% below today’s ($49.91) 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”. As per Thursday, August 11, the company rating was maintained by TD Securities. The stock of Ritchie Bros. Auctioneers (TSE:RBA) has “Outperform” rating given on Tuesday, August 30 by RBC Capital Markets.
More notable recent Ritchie Bros. Auctioneers (TSE:RBA) news were published by: Seekingalpha.com which released: “Ritchie Bros. Auctioneers (RBA) Q3 2016 Results – Earnings Call Transcript” on November 10, 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: Fool.com and their article: “1 Key Ritchie Bros. Auctioneers Stock Number You Must Know” published on April 28, 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 $5.61 billion. The Firm is an auctioneer of industrial equipment. It has a 36.17 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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