Ritchie Bros. Auctioneers Incorporated (RBA) : The total money flow in Ritchie Bros. Auctioneers Incorporated (RBA) was negative ($0.84 million), showing the domination of sellers in the Tuesday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $16.9 million. Transactions on upticks were comparatively lower at $16.06 million. The uptick to downtick ratio was 0.95. The total block trades done on upticks were valued at $4.09 million. The total block trades on downticks were valued at $4.98 million. The uptick to the downtick ratio of block trades was 0.82. The money flow during block trades was negative ($0.89 million) when the stock traded with a gain of $524 cent. Ritchie Bros. Auctioneers Incorporated (RBA) was $34.13, an increase of 18.14% over the previous days close.
Also, Macquarie initiates coverage on Ritchie Bros. Auctioneers Incorporated (NYSE:RBA).The analysts at the brokerage house have a current rating of Outperform on the shares. In a recent information released to the investors, Macquarie announces the price target of $34 per share. The rating by the firm was issued on August 25, 2016.
Shares of Ritchie Bros. Auctioneers Incorporated rose by 28.96% in the last five trading days and 8.54% for the last 4 weeks. Ritchie Bros. Auctioneers Incorporated is up 9.07% in the last 3-month period. Year-to-Date the stock performance stands at 49.88%.
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.19 and $33.33 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $35.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $35.71, notching a gain of 23.61% for the day. The total traded volume was 5,279,136 . The stock had closed at $28.89 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Chief Bus. Dev. Officer) of Ritchie Bros Auctioneers Inc, Mcleod Robert Alastair had sold 10,088 shares worth of $247,560 in a transaction dated March 10, 2016. In this transaction, 10,088 shares were sold at $24.54 per share.
Ritchie Bros. Auctioneers Incorporated is an auctioneer of industrial equipment. The Company is engaged in providing unreserved auction services to equipment buyers and sellers. Ritchie Bros. focuses on the sale of heavy machinery. The Company operates through two segments: Core Auction segment and EquipmentOne segment. Core Auction segment offers a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding. EquipmentOne segment is a secure online marketplace that facilitates private equipment transactions. The Company sells equipment through unreserved auctions at around 44 auction sites around the world. Through the Companys unreserved auctions and online marketplaces, it sells a range of used and unused industrial assets, including equipment, trucks and other assets used in the construction, transportation, agricultural, material handling, mining, forestry, energy and marine industries.