Ritchie Bros. Auctioneers Inc (RBA) Receives Average Rating of “Hold” from Analysts
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) has received an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$38.20.
A number of research analysts have recently commented on the company. Scotiabank reiterated an “outperform” rating and issued a C$41.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. Raymond James Financial, Inc. dropped their price objective on Ritchie Bros. Auctioneers to C$38.00 and set a “market perform” rating on the stock in a report on Tuesday, July 11th. TD Securities dropped their price objective on Ritchie Bros. Auctioneers to C$35.00 and set a “reduce” rating on the stock in a report on Monday, July 10th. Finally, CIBC downgraded Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from C$36.00 to C$28.00 in a report on Monday, July 10th.
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In other news, insider Sharon Driscoll purchased 1,375 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of C$36.17 per share, for a total transaction of C$49,733.75.
Ritchie Bros. Auctioneers (TSE RBA) opened at C$36.74 on Monday. Ritchie Bros. Auctioneers has a 1-year low of C$34.03 and a 1-year high of C$52.88.
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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