Ritchie Bros. Auctioneers Inc (RBA) Stock Rating Reaffirmed by Scotiabank
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA)‘s stock had its “outperform” rating reiterated by research analysts at Scotiabank in a note issued to investors on Friday. They currently have a C$42.50 target price on the stock. Scotiabank’s price target would suggest a potential upside of 17.11% from the company’s current price.
RBA has been the subject of several other reports. CIBC downgraded shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from C$36.00 to C$28.00 in a report on Monday, July 10th. TD Securities cut their price objective on shares of Ritchie Bros. Auctioneers to C$29.00 and set a “reduce” rating for the company in a report on Tuesday, October 10th. Raymond James Financial, Inc. cut their price objective on shares of Ritchie Bros. Auctioneers to C$36.00 and set a “market perform” rating for the company in a report on Tuesday, October 10th. Finally, National Bank Financial reissued a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of C$38.20.
Shares of Ritchie Bros. Auctioneers (TSE RBA) opened at 36.29 on Friday. The stock has a 50 day moving average of $37.01 and a 200-day moving average of $38.73. The firm has a market capitalization of $3.89 billion and a P/E ratio of 79.06. Ritchie Bros. Auctioneers has a 52-week low of $34.03 and a 52-week high of $52.88.
In other news, insider Sharon Driscoll purchased 1,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was purchased at an average cost of C$35.72 per share, with a total value of C$35,720.00.
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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