Ritchie Bros. Auctioneers (TSE: RBA) was upgraded by equities researchers at Scotiabank from an “underperform” rating to a “sector perform” rating in a report issued on Thursday. The firm currently has a $23.50 target price on the stock, up from their previous target price of $20.50.
Ritchie Bros. Auctioneers traded up 0.56% on Thursday, hitting $23.20. Ritchie Bros. Auctioneers has a 52-week low of $17.84 and a 52-week high of $24.27. The stock’s 50-day moving average is currently $21.74. The company has a market cap of $2.471 billion and a price-to-earnings ratio of 28.98.
Several other analysts have also recently commented on the stock. Analysts at Paradigm Capital cut their price target on shares of Ritchie Bros. Auctioneers from $22.00 to $21.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research note to investors on Monday, December 24th. They now have a $25.00 price target on the stock.
Ritchie Bros. Auctioneers Incorporated and its subsidiaries sells industrial equipment and other assets for the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries at its unreserved auctions worldwide.
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