The stock of Ritchie Bros. Auctioneers (USA) (NYSE:RBA) reached all time high today, Nov, 22 and still has $41.13 target or 8.00% above today’s $38.08 share price. This indicates more upside for the $4.10 billion company. This technical setup was reported by Barchart.com. If the $41.13 PT is reached, the company will be worth $328.00 million 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 251,465 shares traded hands. Ritchie Bros. Auctioneers (USA) (NYSE:RBA) has risen 30.10% since April 20, 2016 and is uptrending. It has outperformed by 25.55% the S&P500.
Ritchie Bros. Auctioneers (USA) (NYSE:RBA) Ratings Coverage
Out of 6 analysts covering Ritchie Bros. Auctioneers Incorporated (NYSE:RBA), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. Ritchie Bros. Auctioneers Incorporated has been the topic of 15 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Jefferies maintained Ritchie Bros. Auctioneers (USA) (NYSE:RBA) on Wednesday, August 10 with “Hold” rating. RBC Capital Markets maintained it with “Outperform” rating and $28.0 target price in Tuesday, January 12 report. The rating was initiated by Macquarie Research with “Neutral” on Thursday, October 1. Canaccord Genuity upgraded Ritchie Bros. Auctioneers (USA) (NYSE:RBA) on Monday, August 10 to “Hold” rating. On Friday, October 16 the stock rating was downgraded by RBC Capital Markets to “”. OTR Global downgraded Ritchie Bros. Auctioneers (USA) (NYSE:RBA) on Monday, October 12 to “Negative” rating. Macquarie Research initiated the shares of RBA in a report on Friday, August 26 with “Outperform” rating. The rating was initiated by KeyBanc Capital Markets on Friday, May 27 with “Sector Weight”. The firm earned “Overweight” rating on Monday, August 15 by KeyBanc Capital Markets. The firm has “Negative” rating by OTR Global given on Friday, July 22.
According to Zacks Investment Research, “Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative auction methods, attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world.”
More recent Ritchie Bros. Auctioneers (USA) (NYSE:RBA) news were published by: Streetinsider.com which released: “Ritchie Bros. Auctioneers (RBA) to Acquire IronPlanet in $758.5M Deal” on August 30, 2016. Also Fool.ca published the news titled: “Ritchie Bros. Auctioneers Inc.: 1 Key Metric You Need to Know” on October 17, 2016. Fool.ca‘s news article titled: “Ritchie Bros. Auctioneers Has a Plan for Massive Growth” with publication date: January 15, 2016 was also an interesting one.
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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