The stock of Ritchie Bros. Auctioneers (TSE:RBA) hit a new 52-week high and has $56.14 target or 9.00% above today’s $51.50 share price. The 7 months bullish chart indicates low risk for the $5.60B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $56.14 price target is reached, the company will be worth $504.00 million 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 3,425 shares traded hands. Ritchie Bros. Auctioneers (TSE:RBA) has risen 39.87% since April 19, 2016 and is uptrending. It has outperformed by 34.54% 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. $59 is the highest target while $26 is the lowest. The $46 average target is -10.68% below today’s ($51.5) stock price. Ritchie Bros. Auctioneers has been the topic of 5 analyst reports since August 11, 2016 according to StockzIntelligence Inc. The rating was maintained by TD Securities on Friday, November 11 with “Reduce”. The stock of Ritchie Bros. Auctioneers (TSE:RBA) earned “Reduce” rating by TD Securities on Tuesday, August 30. The firm earned “Reduce” rating on Thursday, August 11 by TD Securities. RBC Capital Markets maintained the shares of RBA in a report on Tuesday, August 30 with “Outperform” rating.
More notable recent Ritchie Bros. Auctioneers (TSE:RBA) news were published by: Forbes.com which released: “Ex-Div Reminder for Ritchie Bros Auctioneers (RBA)” on November 22, 2016, also Seekingalpha.com with their article: “Ritchie Bros. Auctioneers: Value Stock With Growth Opportunity” published on November 20, 2016, Fool.com published: “Ritchie Bros. Auctioneers Continues Moving Higher After Q3 — Here’s Why” on November 11, 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 Forbes.com‘s news article titled: “Ritchie Bros Auctioneers Becomes Oversold” with publication date: August 09, 2016.
Ritchie Bros. Auctioneers Incorporated is a holding company. The company has a market cap of $5.60 billion. The Firm is an auctioneer of industrial equipment. It has a 37.39 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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