Barrington analyst Gary Prestopino maintained a Hold rating on Ritchie Bros (RBA) today. The company’s shares opened today at $37.37.
Prestopino said:
“West region, strong growth from GovPlanet as well as some lift from a recent buyer fee increase. Canada was up 8% due to the addition of the Grand Prairie auction event, strong guarantee rates and an increase in smaller value lots in the period, resulting in higher per lot fee rates. International service revenue increased 18% due to higher straight commission rates as well as higher fee revenue. The A&M service revenue rate in Q2/19 increased 80 bps to 13.4% representing the strongest rate performance over the last eight quarters.”
According to TipRanks.com, Prestopino has 0 stars on 0-5 star ranking scale with an average return of -4.3% and a 41.4% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, US Auto Parts Network, and Liquidity Services.
Ritchie Bros has an analyst consensus of Moderate Buy, with a price target consensus of $35.41, a -5.2% downside from current levels. In a report issued on August 9, RBC Capital also maintained a Hold rating on the stock with a $36 price target.
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Ritchie Bros’ market cap is currently $4.07B and has a P/E ratio of 33.09. The company has a Price to Book ratio of 4.91.
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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.
