Brokerages Set Ritchie Bros. Auctioneers Inc (RBA) Price Target at $38.33

Shares of Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$38.33.

A number of brokerages have weighed in on RBA. TD Securities lowered their target price on Ritchie Bros. Auctioneers to C$29.00 and set a “reduce” rating for the company in a report on Tuesday, October 10th. Scotiabank reiterated an “outperform” rating and issued a C$42.50 target price on shares of Ritchie Bros. Auctioneers in a report on Friday, October 20th. Raymond James Financial decreased their price objective on 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 upgraded Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$28.00 to C$39.00 in a report on Monday, November 20th.

Shares of Ritchie Bros. Auctioneers (TSE RBA) traded up C$0.64 during mid-day trading on Friday, reaching C$39.72. The company’s stock had a trading volume of 230,664 shares, compared to its average volume of 175,016. The company has a market capitalization of $4,190.00, a P/E ratio of 52.26 and a beta of 0.26. Ritchie Bros. Auctioneers has a 1-year low of C$30.63 and a 1-year high of C$46.32.

Ritchie Bros. Auctioneers (TSE:RBA) (NYSE:RBA) last issued its earnings results on Thursday, November 9th. The company reported C$0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.18 by C($0.07). Ritchie Bros. Auctioneers had a return on equity of 5.77% and a net margin of 7.32%.

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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.

Analyst Recommendations for Ritchie Bros. Auctioneers (TSE:RBA)

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