Ritchie Bros. Auctioneers Inc (RBA) Rating Reiterated by Scotiabank
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA)‘s stock had its “outperform” rating reissued by equities researchers at Scotiabank in a report issued on Friday, StockTargetPrices.com reports. They currently have a C$42.50 target price on the stock. Scotiabank’s price objective would suggest a potential upside of 17.66% from the company’s current price.
Other analysts have also issued research reports about the stock. Raymond James Financial, Inc. lowered their price objective on shares of Ritchie Bros. Auctioneers to C$38.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 11th. TD Securities lowered their price objective on shares of Ritchie Bros. Auctioneers to C$29.00 and set a “reduce” rating on the stock in a research report on Tuesday, October 10th. National Bank Financial reaffirmed a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, June 29th. Finally, CIBC lowered shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$36.00 to C$28.00 in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$38.20.
Shares of Ritchie Bros. Auctioneers (TSE RBA) traded up 0.58% on Friday, reaching $36.33. 195,223 shares of the company were exchanged. Ritchie Bros. Auctioneers has a 12-month low of $34.03 and a 12-month high of $52.88. The firm has a market capitalization of $3.89 billion and a PE ratio of 79.15. The company’s 50 day moving average is $37.03 and its 200 day moving average is $38.78.
In other Ritchie Bros. Auctioneers news, insider Sharon Driscoll purchased 1,375 shares of the stock in a transaction dated Thursday, September 7th. The shares were bought at an average price of C$36.17 per share, with a total value of C$49,733.75.
About Ritchie Bros. Auctioneers
Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.
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