Time to Buy Ritchie Bros. Auctioneers After Today’s Huge Decline?

 Time to Buy Ritchie Bros. Auctioneers After Today's Huge Decline?

The stock of Ritchie Bros. Auctioneers (TSE:RBA) is a huge mover today! About 24,760 shares traded hands. Ritchie Bros. Auctioneers (TSE:RBA) has risen 39.52% since April 22, 2016 and is uptrending. It has outperformed by 33.51% the S&P500.
The move comes after 8 months negative chart setup for the $5.41 billion company. It was reported on Nov, 28 by Barchart.com. We have $47.14 PT which if reached, will make TSE:RBA worth $378.70 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 -9.25% below today’s ($50.69) 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 Thursday, August 11 with “Reduce” rating. The rating was maintained by TD Securities on Tuesday, August 30 with “Reduce”. The firm has “Outperform” rating given on Tuesday, August 30 by RBC Capital Markets. The rating was maintained by TD Securities with “Reduce” on Friday, November 11.

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 Fool.com with their article: “Ritchie Bros. Auctioneers Continues Moving Higher After Q3 — Here’s Why” published on November 11, 2016, Seekingalpha.com published: “Ritchie Bros. Auctioneers: Value Stock With Growth Opportunity” on November 20, 2016. More interesting news about Ritchie Bros. Auctioneers (TSE:RBA) were released by: Forbes.com and their article: “Ritchie Bros Auctioneers Becomes Oversold” published on August 09, 2016 as well as Streetinsider.com‘s news article titled: “Ritchie Bros. Auctioneers (RBA) to Acquire IronPlanet in $758.5M Deal” with publication date: August 30, 2016.

Ritchie Bros. Auctioneers Incorporated is a holding company. The company has a market cap of $5.41 billion. The Firm is an auctioneer of industrial equipment. It has a 36.57 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment