Ritchie Bros. Auctioneers’s Trend Down, Especially After Today’s Weak Session

 Ritchie Bros. Auctioneers's Trend Down, Especially After Today's Weak Session

The stock of Ritchie Bros. Auctioneers (TSE:RBA) is a huge mover today! About 688,829 shares traded hands or 516.07% up from the average. Ritchie Bros. Auctioneers (TSE:RBA) has risen 42.28% since April 11, 2016 and is uptrending. It has outperformed by 38.35% the S&P500.
The move comes after 7 months negative chart setup for the $5.37B company. It was reported on Nov, 15 by Barchart.com. We have $47.20 PT which if reached, will make TSE:RBA worth $322.20 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. $59 is the highest target while $26 is the lowest. The $46 average target is -8.38% below today’s ($50.21) stock price. 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) earned “Reduce” rating by TD Securities on Tuesday, August 30. On Tuesday, August 30 the stock rating was maintained by RBC Capital Markets with “Outperform”. TD Securities maintained Ritchie Bros. Auctioneers (TSE:RBA) on Thursday, August 11 with “Reduce” rating. TD Securities maintained it with “Reduce” rating and $33 target price in Friday, November 11 report.

More notable recent Ritchie Bros. Auctioneers (TSE:RBA) news were published by: Fool.com which released: “Ritchie Bros. Auctioneers Continues Moving Higher After Q3 — Here’s Why” on November 11, 2016, also Seekingalpha.com with their article: “Ritchie Bros. Auctioneers (RBA) Q3 2016 Results – Earnings Call Transcript” published on November 10, 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: Streetinsider.com and their article: “Ritchie Bros. Auctioneers (RBA) to Acquire IronPlanet in $758.5M Deal” published on August 30, 2016 as well as Fool.com‘s news article titled: “1 Key Ritchie Bros. Auctioneers Stock Number You Must Know” with publication date: April 28, 2016.

Ritchie Bros. Auctioneers Incorporated is a holding company. The company has a market cap of $5.37 billion. The Firm is an auctioneer of industrial equipment. It has a 36.15 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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