CIBC Lowers Rocky Mountain Dealerships (RME) to Neutral

CIBC downgraded shares of Rocky Mountain Dealerships (TSE:RME) from an outperform rating to a neutral rating in a research note released on Tuesday, January 9th. CIBC currently has C$15.00 price target on the stock, up from their prior price target of C$13.50.

Other equities research analysts have also issued reports about the stock. National Bank Financial lifted their target price on shares of Rocky Mountain Dealerships from C$14.00 to C$15.00 and gave the company an outperform rating in a research report on Monday, December 4th. Raymond James Financial lifted their target price on shares of Rocky Mountain Dealerships from C$13.00 to C$14.50 and gave the company an outperform rating in a research report on Thursday, November 9th. Finally, TD Securities boosted their price objective on shares of Rocky Mountain Dealerships from C$13.00 to C$13.50 and gave the stock a buy rating in a report on Thursday, November 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Rocky Mountain Dealerships currently has a consensus rating of Buy and a consensus target price of C$14.10.

Shares of Rocky Mountain Dealerships (TSE:RME) opened at C$13.66 on Tuesday. Rocky Mountain Dealerships has a 1-year low of C$9.20 and a 1-year high of C$14.34. The stock has a market cap of $265.71, a PE ratio of 13.66 and a beta of 0.97.

Rocky Mountain Dealerships (TSE:RME) last posted its earnings results on Wednesday, November 8th. The company reported C$0.44 earnings per share for the quarter, topping the consensus estimate of C$0.33 by C$0.11. Rocky Mountain Dealerships had a net margin of 3.80% and a return on equity of 19.81%.

In other news, insider Jerald Palmer sold 15,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of C$13.60, for a total value of C$204,000.00. Also, Director Garrett Andrew Wyatt Ganden sold 30,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of C$12.70, for a total transaction of C$381,000.00. Over the last three months, insiders have sold 127,600 shares of company stock worth $1,678,900.

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About Rocky Mountain Dealerships

Rocky Mountain Dealerships Inc is an agriculture equipment dealer with a network of full-service agriculture and industrial equipment stores across the Canadian Prairie Provinces. The Company operates in two segments: agriculture segment and industrial segment. The agriculture segment primarily includes sales of agricultural equipment, parts and services, and the industrial segment includes sales of industrial equipment, parts and services.

Analyst Recommendations for Rocky Mountain Dealerships (TSE:RME)

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