TD Securities Lowers Ritchie Bros. Auctioneers Inc (RBA) Price Target to C$29.00

Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) had its target price lowered by analysts at TD Securities to C$29.00 in a note issued to investors on Tuesday. The firm presently has a “reduce” rating on the stock. TD Securities’ price objective suggests a potential downside of 17.02% from the company’s previous close.

Several other analysts have also issued reports on the company. Raymond James Financial, Inc. cut their price target on Ritchie Bros. Auctioneers to C$36.00 and set a “market perform” rating for the company in a report on Tuesday. Scotiabank reissued an “outperform” rating and set a C$41.00 price target on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. CIBC lowered Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and cut their price target for the company from C$36.00 to C$28.00 in a report on Monday, July 10th. Finally, National Bank Financial reissued a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Ritchie Bros. Auctioneers presently has a consensus rating of “Hold” and a consensus price target of C$37.90.

Shares of Ritchie Bros. Auctioneers (RBA) opened at 34.95 on Tuesday. Ritchie Bros. Auctioneers has a one year low of $34.03 and a one year high of $52.88. The stock has a market cap of $3.74 billion and a PE ratio of 76.14. The company’s 50-day moving average price is $37.14 and its 200-day moving average price is $39.11.

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In other Ritchie Bros. Auctioneers news, insider Sharon Driscoll acquired 1,375 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price of C$36.17 per share, with a total value of C$49,733.75.

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 (TSE:RBA)

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