Ritchie Bros. Auctioneers Incorporated [RBA] Stock trading around $51.29 per share: What’s Next?

Ritchie Bros. Auctioneers Incorporated [NYSE: RBA] plunged by -$11.03 during the normal trading session on Monday and reaching a high of $55.05 during the day while it closed the day at $51.29. The company report on November 7, 2022 that Ritchie Bros. reports third quarter 2022 results.

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Robust service revenue growth of 15% outpaces strong 7% growth in GTV.

Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA), (the “Company”, “Ritchie Bros.”, “we”, “us”, or “our”) reported the following results for the third quarter, for the three months ended September 30, 2022.

Ritchie Bros. Auctioneers Incorporated stock has also loss -21.49% of its value over the past 7 days. However, RBA stock has declined by -26.60% in the 3 months of the year. Over the past six months meanwhile, it has gained 0.59% and lost -16.21% year-on date.

The market cap for RBA stock reached $5.71 billion, with 110.76 million shares outstanding and 110.65 million shares in the current float. Compared to the average trading volume of 350.07K shares, RBA reached a trading volume of 7230741 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ritchie Bros. Auctioneers Incorporated [RBA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RBA shares is $78.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RBA stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barrington Research have made an estimate for Ritchie Bros. Auctioneers Incorporated shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 07, 2022. The new note on the price target was released on July 14, 2022, representing the official price target for Ritchie Bros. Auctioneers Incorporated stock. Previously, the target price had yet another raise to $56, while National Bank Financial analysts kept a Underperform rating on RBA stock. On May 13, 2022, analysts increased their price target for RBA shares from 51 to 61.

The Average True Range (ATR) for Ritchie Bros. Auctioneers Incorporated is set at 2.52, with the Price to Sales ratio for RBA stock in the period of the last 12 months amounting to 3.64. The Price to Book ratio for the last quarter was 4.57, with the Price to Cash per share for the same quarter was set at 3.30. Price to Free Cash Flow for RBA in the course of the last twelve months was 31.03 with Quick ratio for the last quarter at 1.10.

RBA stock trade performance evaluation

Ritchie Bros. Auctioneers Incorporated [RBA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.49. With this latest performance, RBA shares dropped by -15.12% in over the last four-week period, additionally plugging by 0.59% over the last 6 months – not to mention a drop of -31.15% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RBA stock in for the last two-week period is set at 22.73, with the RSI for the last a single of trading hit 16.76, and the three-weeks RSI is set at 27.13 for Ritchie Bros. Auctioneers Incorporated [RBA]. The present Moving Average for the last 50 days of trading for this stock 64.35, while it was recorded at 60.54 for the last single week of trading, and 61.99 for the last 200 days.

Ritchie Bros. Auctioneers Incorporated [RBA]: An insightful look at the core fundamentals

Ritchie Bros. Auctioneers Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.30.

Earnings per share (EPS) analysis for Ritchie Bros. Auctioneers Incorporated [RBA] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RBA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ritchie Bros. Auctioneers Incorporated go to 12.00%.

Ritchie Bros. Auctioneers Incorporated [RBA]: Insider Ownership positions

There are presently around $4,721 million, or 84.90% of RBA stock, in the hands of institutional investors. The top three institutional holders of RBA stocks are: MASSACHUSETTS FINANCIAL SERVICES CO /MA/ with ownership of 7,484,991, which is approximately -13.667% of the company’s market cap and around 14.30% of the total institutional ownership; BEUTEL, GOODMAN & CO LTD., holding 5,973,349 shares of the stock with an approximate value of $306.37 million in RBA stocks shares; and JANUS HENDERSON GROUP PLC, currently with $222.28 million in RBA stock with ownership of nearly -23.762% of the company’s market capitalization.

153 institutional holders increased their position in Ritchie Bros. Auctioneers Incorporated [NYSE:RBA] by around 7,960,923 shares. Additionally, 137 investors decreased positions by around 8,131,800 shares, while 44 investors held positions by with 75,945,498 shares. The mentioned changes placed institutional holdings at 92,038,221 shares, according to the latest SEC report filing. RBA stock had 50 new institutional investments in for a total of 3,601,115 shares, while 23 institutional investors sold positions of 679,275 shares during the same period.


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