Ritchie Bros. Auctioneers (USA) (RBA) is Initiated by Macquarie to Outperform, Price Target at $34

Ritchie Bros. Auctioneers (USA) (RBA) was Initiated by Macquarie to “Outperform” and the brokerage firm has set the Price Target at $34. Macquarie advised their investors in a research report released on Aug 26, 2016.

Many Wall Street Analysts have commented on Ritchie Bros. Auctioneers (USA). Ritchie Bros. Auctioneers (USA) was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Aug 15, 2016. Ritchie Bros. Auctioneers (USA) was Downgraded by Jefferies to ” Hold” on Jul 15, 2016.

On the company’s financial health, Ritchie Bros. Auctioneers (USA) reported $0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.44. The company had revenue of $158.80 million for the quarter, compared to analysts expectations of $160.50 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Ritchie Bros. Auctioneers (USA) opened for trading at $27.3 and hit $27.7 on the upside on Tuesday, eventually ending the session at $27.69, with a gain of 1.54% or 0.42 points. The heightened volatility saw the trading volume jump to 6,17,080 shares. Company has a market cap of $2,952 M.

In a different news, on Mar 11, 2016, Robert Alastair Mcleod (Chief Bus. Dev. Officer) sold 10,088 shares at $24.54 per share price. According to the SEC, on Mar 10, 2016, Karl William Werner (Ch. Op. & Supp. Dev. Officer) sold 19,300 shares at $25.19 per share price. On Mar 7, 2016, Edward Baltazar Pitoniak (director) purchased 100 shares at $24.44 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

Ritchie Bros. Auctioneers (USA)

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