In a report released today, Gary Prestopino from Barrington maintained a Hold rating on Ritchie Bros (RBA). The company’s shares closed last Friday at $60.63, close to its 52-week high of $65.98.
According to TipRanks.com, Prestopino is a 4-star analyst with an average return of 7.4% and a 46.4% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services, Points International, and Liquidity Services.
Currently, the analyst consensus on Ritchie Bros is a Moderate Buy with an average price target of $61.33.
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Based on Ritchie Bros’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $389 million and net profit of $53.04 million. In comparison, last year the company earned revenue of $393 million and had a net profit of $54.04 million.
Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RBA in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ritchie Bros. Auctioneers, Inc. is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service. The Ritchie Bros. Financial Services segment refers to the financial brokerage service. The Mascus segment includes online listing service. The company was founded by David Edward Ritchie in 1958 and is headquartered in Burnaby, Canada.
