Scotiabank Cuts Ritchie Bros. Auctioneers Inc (RBA) Price Target to C$41.00
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) had its price objective reduced by Scotiabank to C$41.00 in a research note released on Monday, July 10th, StockTargetPrices.com reports. They currently have an outperform rating on the stock.
A number of other research analysts have also weighed in on the company. CIBC lowered Ritchie Bros. Auctioneers from an outperform rating to a neutral rating and decreased their target price for the stock from C$36.00 to C$28.00 in a report on Monday, July 10th. National Bank Financial reaffirmed a sector perform under weight rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. Royal Bank Of Canada cut their target price on Ritchie Bros. Auctioneers to C$55.50 and set an outperform rating for the company in a research report on Monday, May 15th. Raymond James Financial, Inc. cut their target price on Ritchie Bros. Auctioneers from C$37.50 to C$33.50 and set a market perform rating for the company in a research report on Monday, May 15th. Finally, Barrington Research restated a market perform rating on shares of Ritchie Bros. Auctioneers in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Ritchie Bros. Auctioneers has a consensus rating of Hold and a consensus price target of C$39.50.
Shares of Ritchie Bros. Auctioneers (TSE:RBA) traded up 7.97% during midday trading on Monday, hitting $37.54. 616,050 shares of the stock were exchanged. The stock has a market cap of $4.02 billion and a P/E ratio of 55.21. The stock’s 50-day moving average price is $36.38 and its 200 day moving average price is $40.98. Ritchie Bros. Auctioneers has a one year low of $34.03 and a one year high of $52.88.
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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.
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