Will Ritchie Bros. Auctioneers Run Out of Steam Soon?

 Will Ritchie Bros. Auctioneers Run Out of Steam Soon?

The stock of Ritchie Bros. Auctioneers (TSE:RBA) reached all time high today, Nov, 14 and still has $61.19 target or 21.00% above today’s $50.57 share price. This indicates more upside for the $5.42 billion company. This technical setup was reported by Barchart.com. If the $61.19 PT is reached, the company will be worth $1.14 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 34,035 shares traded hands. Ritchie Bros. Auctioneers (TSE:RBA) has risen 43.25% since April 8, 2016 and is uptrending. It has outperformed by 38.27% 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. Ritchie Bros. Auctioneers has been the topic of 5 analyst reports since August 11, 2016 according to StockzIntelligence Inc. The stock of Ritchie Bros. Auctioneers (TSE:RBA) has “Reduce” rating given on Friday, November 11 by TD Securities. TD Securities maintained Ritchie Bros. Auctioneers (TSE:RBA) on Tuesday, August 30 with “Reduce” rating. The stock of Ritchie Bros. Auctioneers (TSE:RBA) has “Outperform” rating given on Tuesday, August 30 by RBC Capital Markets. The rating was maintained by TD Securities with “Reduce” on Thursday, August 11.

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: “Ritchie Bros. Auctioneers Posts Strong Q1, and Growth Story Remains Appealing” with publication date: May 11, 2016.

Ritchie Bros. Auctioneers Incorporated is a holding company. The company has a market cap of $5.42 billion. The Firm is an auctioneer of industrial equipment. It has a 36.45 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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