National Bank Financial Upgrades Ritchie Bros. Auctioneers Inc (RBA) to “Outperform”
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) was upgraded by investment analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued on Monday. The brokerage presently has a C$39.00 price target on the stock, up from their previous price target of C$28.00. National Bank Financial’s target price would indicate a potential upside of 16.87% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. Raymond James Financial, Inc. lowered their price objective on Ritchie Bros. Auctioneers to C$36.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 10th. Scotiabank restated an “outperform” rating and issued a C$41.00 price objective on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, September 12th. Finally, TD Securities lowered their price objective on Ritchie Bros. Auctioneers to C$29.00 and set a “reduce” rating on the stock in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$38.33.
Shares of Ritchie Bros. Auctioneers (TSE RBA) opened at C$33.37 on Monday. Ritchie Bros. Auctioneers has a 52 week low of C$30.63 and a 52 week high of C$52.88.
In related news, insider Sharon Driscoll purchased 1,375 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average cost of C$36.17 per share, for a total transaction of C$49,733.75.
Ritchie Bros. Auctioneers Company Profile
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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