The stock of Ritchie Bros. Auctioneers (USA) (NYSE:RBA) reached all time high today, Oct, 3 and still has $53.28 target or 48.00% above today’s $36.00 share price. This indicates more upside for the $3.93 billion company. This technical setup was reported by Barchart.com. If the $53.28 PT is reached, the company will be worth $1.89 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 2.65% or $0.93 during the last trading session, hitting $36. About 1.46 million shares traded hands or 76.43% up from the average. 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.
Analysts await Ritchie Bros. Auctioneers (USA) (NYSE:RBA) to report earnings on November, 3. They expect $0.19 earnings per share, 0.00% or $0.00 from last year’s $0.19 per share. RBA’s profit will be $20.74 million for 47.37 P/E if the $0.19 EPS becomes a reality. After $0.37 actual earnings per share 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 earned “Overweight” rating on Monday, August 15 by KeyBanc Capital Markets. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, August 31. Canaccord Genuity upgraded the shares of RBA in a report on Monday, August 10 to “Hold” rating. The firm has “Hold” rating by Jefferies given on Wednesday, August 10. The rating was downgraded by OTR Global to “Negative” on Monday, October 12. The company was downgraded on Friday, October 16 by RBC Capital Markets. The stock has “Negative” rating given by OTR Global on Friday, July 22. Canaccord Genuity upgraded Ritchie Bros. Auctioneers (USA) (NYSE:RBA) rating on Wednesday, August 12. Canaccord Genuity has “Hold” rating and $32 price target. The firm earned “Neutral” rating on Thursday, October 1 by Macquarie Research. The stock has “Outperform” rating given by Macquarie Research on Friday, August 26.
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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