Ritchie Bros. Auctioneers (TSE:RBA) Price Target Lowered to C$59.00 at Raymond James

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Ritchie Bros. Auctioneers (TSE:RBA) (NYSE:RBA) had its price target reduced by equities researchers at Raymond James from C$60.00 to C$59.00 in a report released on Thursday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ target price suggests a potential downside of 23.34% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. National Bank Financial upgraded Ritchie Bros. Auctioneers from a “sector perform under weight” rating to an “outperfrom under weight” rating in a research report on Tuesday, February 23rd. TD Securities lowered their target price on Ritchie Bros. Auctioneers to C$57.00 and set a “hold” rating on the stock in a report on Monday, February 22nd.

RBA traded down C$0.50 on Thursday, reaching C$76.96. The company’s stock had a trading volume of 71,907 shares, compared to its average volume of 226,914. The stock has a 50 day moving average of C$70.79 and a two-hundred day moving average of C$80.35. The company has a quick ratio of 0.81, a current ratio of 1.08 and a debt-to-equity ratio of 80.54. The company has a market capitalization of C$8.46 billion and a price-to-earnings ratio of 49.91. Ritchie Bros. Auctioneers has a fifty-two week low of C$52.78 and a fifty-two week high of C$101.93.

Ritchie Bros. Auctioneers (TSE:RBA) (NYSE:RBA) last released its quarterly earnings results on Thursday, February 18th. The company reported C$0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.69 by C($0.05). The firm had revenue of C$499.74 million during the quarter, compared to analyst estimates of C$476.73 million. As a group, analysts anticipate that Ritchie Bros. Auctioneers will post 1.3800001 earnings per share for the current fiscal year.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site auctions, online marketplaces, listing services, and private brokerage services. It sells a range of used and unused commercial assets, including earthmoving equipment, truck tractors and trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

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