Ritchie Bros. Auctioneers Incorporated (RBA) : Zacks Investment Research ranks Ritchie Bros. Auctioneers Incorporated (RBA) as 3, which is a Hold recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 11 research analysts is 2.09, which indicates as a Buy.
Ritchie Bros. Auctioneers Incorporated (RBA) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $41 and the lowest price target forecast is $32. The average forecast of all the analysts is $38.25 and the expected standard deviation is $3.28.
Also, Jefferies maintains its view on Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) according to the research report released by the firm to its investors. The shares have now been rated Hold by the stock experts at the ratings house. Jefferies raises the price target from $28 per share to $32 per share on Ritchie Bros. Auctioneers Incorporated. The rating by the firm was issued on August 31, 2016.
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA): After opening at $33.67, the stock dipped to an intraday low of $33.67 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $34.42 and the buying power remained strong till the end. The stock closed at $34.08 for the day, a gain of 1.40% for the day session. The total traded volume was 484,146. The stocks close on the previous trading day was $33.61.
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 Companys 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.