Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) had its price objective cut by Raymond James Financial, Inc. from $33.50 to $29.50 in a research report report published on Tuesday, July 11th. They currently have a market perform rating on the business services provider’s stock.

RBA has been the topic of several other research reports. TD Securities reaffirmed a sell rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th. BidaskClub cut Ritchie Bros. Auctioneers from a hold rating to a sell rating in a research report on Wednesday, June 21st. Royal Bank Of Canada dropped their target price on Ritchie Bros. Auctioneers from $41.00 to $40.00 and set an outperform rating on the stock in a research report on Monday, May 8th. Zacks Investment Research raised Ritchie Bros. Auctioneers from a strong sell rating to a hold rating in a research report on Saturday, July 8th. Finally, CIBC cut Ritchie Bros. Auctioneers from a sector outperform rating to a sector perform rating and set a $28.00 price objective for the company. in a research report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Ritchie Bros. Auctioneers presently has an average rating of Hold and an average target price of $33.75.

Ritchie Bros. Auctioneers (NYSE RBA) opened at 27.46 on Tuesday. Ritchie Bros. Auctioneers has a 1-year low of $26.68 and a 1-year high of $39.96. The stock has a 50 day moving average price of $28.67 and a 200 day moving average price of $31.01. The stock has a market cap of $2.94 billion, a PE ratio of 40.38 and a beta of 0.55.

WARNING: “Raymond James Financial, Inc. Lowers Ritchie Bros. Auctioneers Incorporated (RBA) Price Target to $29.50” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/07/ritchie-bros-auctioneers-incorporated-rba-price-target-cut-to-29-50-by-analysts-at-raymond-james-financial-inc-updated-updated-updated.html.

A number of hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of Ritchie Bros. Auctioneers by 1.7% in the first quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock worth $14,841,000 after buying an additional 7,478 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Ritchie Bros. Auctioneers by 2,029.1% in the first quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock worth $15,808,000 after buying an additional 457,917 shares in the last quarter. Comerica Bank boosted its stake in shares of Ritchie Bros. Auctioneers by 10.9% in the fourth quarter. Comerica Bank now owns 6,693 shares of the business services provider’s stock worth $220,000 after buying an additional 659 shares in the last quarter. RMB Capital Management LLC boosted its stake in shares of Ritchie Bros. Auctioneers by 52.1% in the fourth quarter. RMB Capital Management LLC now owns 319,194 shares of the business services provider’s stock worth $10,853,000 after buying an additional 109,336 shares in the last quarter. Finally, CGOV Asset Management boosted its stake in shares of Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock worth $304,466,000 after buying an additional 4,175,593 shares in the last quarter. 97.17% of the stock is owned by institutional investors.

About Ritchie Bros. Auctioneers

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 (NYSE:RBA)

Receive News & Stock Ratings for Ritchie Bros. Auctioneers Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers Incorporated and related stocks with our FREE daily email newsletter.