Price Action Report: How Analysts Feel About Ritchie Bros. Auctioneers (USA) After Reaching Record High?

Price Action Report: How Analysts Feel About Ritchie Bros. Auctioneers (USA) After Reaching Record High?

The stock of Ritchie Bros. Auctioneers (USA) (NYSE:RBA) reached all time high today, Nov, 10 and still has $55.61 target or 50.00% above today’s $37.07 share price. This indicates more upside for the $4.04 billion company. This technical setup was reported by Barchart.com. If the $55.61 PT is reached, the company will be worth $2.02 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. About 220,207 shares traded hands. Ritchie Bros. Auctioneers (USA) (NYSE:RBA) has risen 31.22% since April 8, 2016 and is uptrending. It has outperformed by 25.57% the S&P500.

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. Canaccord Genuity upgraded the stock to “Hold” rating in Monday, August 10 report. The firm earned “Hold” rating on Wednesday, August 10 by Jefferies. The firm has “Outperform” rating given on Wednesday, August 31 by RBC Capital Markets. The rating was upgraded by KeyBanc Capital Markets on Monday, August 15 to “Overweight”. The firm has “” rating given on Friday, October 16 by RBC Capital Markets. As per Friday, July 22, the company rating was downgraded by OTR Global. The firm has “Outperform” rating given on Friday, August 26 by Macquarie Research. KeyBanc Capital Markets initiated Ritchie Bros. Auctioneers (USA) (NYSE:RBA) on Friday, May 27 with “Sector Weight” rating. The company was downgraded on Monday, October 12 by OTR Global. On Wednesday, August 12 the stock rating was upgraded by Canaccord Genuity to “Hold”.

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 notable 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 with their article: “Ritchie Bros. Auctioneers Has a Plan for Massive Growth” published on January 15, 2016, Fool.ca published: “Ritchie Bros. Auctioneers Inc.: 1 Key Metric You Need to Know” on October 17, 2016. More interesting news about Ritchie Bros. Auctioneers (USA) (NYSE:RBA) were released by: Fool.com and their article: “Ritchie Bros. Auctioneers Starts 2015 With a Win” published on May 08, 2015 as well as Fool.com‘s news article titled: “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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