What Next for Ritchie Bros. Auctioneers Stock After Reaching All-Time High?

 What Next for Ritchie Bros. Auctioneers Stock After Reaching All Time High?

The stock of Ritchie Bros. Auctioneers (TSE:RBA) reached all time high today, Nov, 24 and still has $54.38 target or 6.00% above today’s $51.30 share price. This indicates more upside for the $5.51B company. This technical setup was reported by Barchart.com. If the $54.38 PT is reached, the company will be worth $330.60M 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 6,898 shares traded hands. Ritchie Bros. Auctioneers (TSE:RBA) has risen 41.77% since April 20, 2016 and is uptrending. It has outperformed by 36.36% 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 -10.33% below today’s ($51.3) stock price. Ritchie Bros. Auctioneers has been the topic of 5 analyst reports since August 11, 2016 according to StockzIntelligence Inc. TD Securities maintained Ritchie Bros. Auctioneers (TSE:RBA) on Tuesday, August 30 with “Reduce” rating. TD Securities maintained the shares of RBA in a report on Friday, November 11 with “Reduce” rating. RBC Capital Markets maintained Ritchie Bros. Auctioneers (TSE:RBA) on Tuesday, August 30 with “Outperform” rating. TD Securities maintained Ritchie Bros. Auctioneers (TSE:RBA) on Thursday, August 11 with “Reduce” 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 $5.51 billion. The Firm is an auctioneer of industrial equipment. It has a 37.12 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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