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Canaccord Genuity upped their price objective on shares of Ritchie Bros. Auctioneers (NYSE:RBA) from $25.00 to $27.50 in a research note issued on Tuesday. Canaccord Genuity’s target price would indicate a potential upside of 11.11% from the stock’s previous close.

Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.04% on Tuesday, hitting $24.75. The stock had a trading volume of 314,993 shares. Ritchie Bros. Auctioneers has a one year low of $18.08 and a one year high of $25.73. The stock has a 50-day moving average of $23.39 and a 200-day moving average of $23.05. The company has a market cap of $2.653 billion and a P/E ratio of 28.14.

Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.13. The company had revenue of $98.60 million for the quarter, compared to the consensus estimate of $101.56 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts expect that Ritchie Bros. Auctioneers will post $0.89 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Cantor Fitzgerald upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research note on Monday, June 9th. They now have a $26.00 price target on the stock, up previously from $24.00. Separately, analysts at TD Securities raised their price target on shares of Ritchie Bros. Auctioneers from $18.00 to $19.00 in a research note on Tuesday, May 6th. Finally, analysts at Raymond James raised their price target on shares of Ritchie Bros. Auctioneers from $21.00 to $23.00 in a research note on Tuesday, May 6th. They now have a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and an average target price of $22.96.

Ritchie Bros. Auctioneers Incorporated and its subsidiaries sells industrial equipment and other assets for the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries at its unreserved auctions worldwide.

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