The stock of Ritchie Bros. Auctioneers (USA) (NYSE:RBA) is a huge mover today! About 307,761 shares traded hands. Ritchie Bros. Auctioneers (USA) (NYSE:RBA) has risen 46.68% since February 29, 2016 and is uptrending. It has outperformed by 34.46% the S&P500.
The move comes after 9 months positive chart setup for the $4.04 billion company. It was reported on Oct, 3 by Barchart.com. We have $58.78 PT which if reached, will make NYSE:RBA worth $2.38B more.
Analysts await Ritchie Bros. Auctioneers (USA) (NYSE:RBA) to report earnings on November, 3. They expect $0.19 EPS, 0.00% or $0.00 from last year’s $0.19 per share. RBA’s profit will be $20.76 million for 48.64 P/E if the $0.19 EPS becomes a reality. After $0.37 actual EPS reported by Ritchie Bros. Auctioneers (USA) for the previous quarter, Wall Street now forecasts -48.65% negative EPS growth.
Ritchie Bros. Auctioneers (USA) (NYSE:RBA) Ratings Coverage
Out of 6 analysts covering Ritchie Bros. Auctioneers Incorporated (NYSE:RBA), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. Ritchie Bros. Auctioneers Incorporated has been the topic of 15 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Canaccord Genuity given on Wednesday, August 12. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, August 31. OTR Global downgraded the stock to “Negative” rating in Monday, October 12 report. The firm earned “Sector Weight” rating on Friday, May 27 by KeyBanc Capital Markets. The company was maintained on Tuesday, January 12 by RBC Capital Markets. KeyBanc Capital Markets upgraded the shares of RBA in a report on Monday, August 15 to “Overweight” rating. The rating was initiated by Macquarie Research on Friday, August 26 with “Outperform”. Jefferies maintained Ritchie Bros. Auctioneers (USA) (NYSE:RBA) on Wednesday, August 10 with “Hold” rating. As per Friday, July 22, the company rating was downgraded by OTR Global. The stock of Ritchie Bros. Auctioneers (USA) (NYSE:RBA) has “” rating given on Friday, October 16 by RBC Capital Markets.
According to Zacks Investment Research, “Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative auction methods, attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world.”
More important recent Ritchie Bros. Auctioneers (USA) (NYSE:RBA) news were published by: Streetinsider.com which released: “Ritchie Bros. Auctioneers (RBA) to Acquire IronPlanet in $758.5M Deal” on August 30, 2016, also Fool.ca published article titled: “Ritchie Bros. Auctioneers Has a Plan for Massive Growth”, Fool.com published: “Ritchie Bros. Auctioneers Starts 2015 With a Win” on May 08, 2015. More interesting news about Ritchie Bros. Auctioneers (USA) (NYSE:RBA) was released by: Fool.com and their article: “Ritchie Bros. Auctioneers Bids for Faster Growth” with publication date: February 27, 2015.
RBA Company Profile
Ritchie Bros. Auctioneers Incorporated, incorporated on December 12, 1997, is a holding company. The Firm is an auctioneer of industrial equipment. The Firm is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces. The Firm focuses on the sale of heavy machinery. The Firm operates through two divisions: 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 an online marketplace that facilitates private equipment transactions. The Firm sells equipment through unreserved auctions at approximately 40 auction sites across the world. The majority of the assets sold through the Company’s sales channels are classified as construction machinery. The Firm operates in over 15 countries across the world. The Company’s multi-channel sales solutions allow sellers to choose the method of sale based on their needed degree of control.
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