Raymond James Financial, Inc. Lowers Ritchie Bros. Auctioneers Inc (RBA) Price Target to C$38.00
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) had its price target lowered by analysts at Raymond James Financial, Inc. to C$38.00 in a report released on Tuesday, StockTargetPrices.com reports. The firm currently has a “market perform” rating on the stock. Raymond James Financial, Inc.’s price target would indicate a potential upside of 9.29% from the company’s previous close.
A number of other analysts have also issued reports on RBA. National Bank Financial reissued a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, June 29th. CIBC lowered Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$36.00 to C$28.00 in a research note on Monday. Royal Bank Of Canada reduced their price objective on Ritchie Bros. Auctioneers to C$55.50 and set an “outperform” rating on the stock in a research note on Monday, May 8th. TD Securities dropped their target price on Ritchie Bros. Auctioneers to C$35.00 and set a “reduce” rating on the stock in a report on Monday. Finally, Scotiabank dropped their target price on Ritchie Bros. Auctioneers to C$53.50 and set an “outperform” rating on the stock in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of C$39.50.
Shares of Ritchie Bros. Auctioneers (RBA) traded up 2.01% during midday trading on Tuesday, reaching $35.47. 121,186 shares of the company’s stock traded hands. Ritchie Bros. Auctioneers has a 52 week low of $34.45 and a 52 week high of $52.88. The company has a market capitalization of $3.79 billion and a PE ratio of 52.16. The stock’s 50 day moving average is $41.06 and its 200-day moving average is $42.97.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Tuesday, June 13th were issued a $0.17 dividend. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 19th. This represents a $0.68 annualized dividend and a yield of 1.96%.
TRADEMARK VIOLATION NOTICE: “Raymond James Financial, Inc. Lowers Ritchie Bros. Auctioneers Inc (RBA) Price Target to C$38.00” was first reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/07/11/raymond-james-financial-inc-lowers-ritchie-bros-auctioneers-inc-rba-price-target-to-c38-00.html.
Ritchie Bros. Auctioneers Company Profile
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.
Receive News & Ratings for Ritchie Bros. Auctioneers Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers Inc and related companies with MarketBeat.com's FREE daily email newsletter.