OTR Global Downgrades Ritchie Bros. Auctioneers (USA) to Negative

Brokerage firm OTR Global Downgrades its rating on Ritchie Bros. Auctioneers (USA)(NYSE:RBA). The shares have been rated Negative. Previously, the analysts had a Mixed rating on the shares. The rating by OTR Global was issued on Jul 22, 2016.

In a different note, On Jul 15, 2016, Jefferies said it Downgrades its rating on Ritchie Bros. Auctioneers (USA). The shares have been rated ‘Hold’ by the firm. KeyBanc said it Initiates Coverage on Ritchie Bros. Auctioneers (USA), according to a research note issued on May 27, 2016. The shares have been rated ‘Sector Weight’ by the firm.

Ritchie Bros. Auctioneers (USA) (RBA) made into the market gainers list on Thursdays trading session with the shares advancing 0.37% or 0.12 points. Due to strong positive momentum, the stock ended at $32.95, which is also near the day’s high of $33.03. The stock began the session at $32.82 and the volume stood at 1,98,530 shares. The 52-week high of the shares is $35.24 and the 52 week low is $21.03. The company has a current market capitalization of $3,496 M and it has 10,61,01,974 shares in outstanding.

Ritchie Bros. Auctioneers (USA)(RBA) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $131.94M. Analysts had an estimated revenue of $116.02M. Earnings per share were $0.27. Analysts had estimated an EPS of $0.21.

Several Insider Transactions has been reported to the SEC. On Mar 11, 2016, Robert Alastair Mcleod (Chief Bus. Dev. Officer) sold 10,088 shares at $24.54 per share price.Also, On Mar 10, 2016, Karl William Werner (Ch. Op. & Supp. Dev. Officer) sold 19,300 shares at $25.19 per share price.On Mar 7, 2016, Edward Baltazar Pitoniak (director) purchased 100 shares at $24.44 per share price, according to the Form-4 filing with the securities and exchange commission.

Ritchie Bros. Auctioneers Incorporated is an auctioneer of industrial equipment. The Company is engaged in providing unreserved auction services to equipment buyers and sellers. Ritchie Bros. focuses on the sale of heavy machinery. The Company operates through two segments: Core Auction segment and EquipmentOne segment. Core Auction segment offers a network of auction locations that conduct live unreserved auctions with both on-site and online bidding. EquipmentOne segment is a secure online marketplace that facilitates private equipment transactions. The Company sells equipment through unreserved auctions at around 44 auction sites around the world. Through the Company’s unreserved auctions and online marketplaces it sells a range of used and unused industrial assets including equipment trucks and other assets used in the construction transportation agricultural material handling mining forestry energy and marine industries.

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