Ritchie Bros. Auctioneers Incorporated [NYSE: RBA] price surged by 3.13 percent to reach at $1.85. The company report on March 6, 2023 that ISS and Glass Lewis Both Recommend Ritchie Bros. Shareholders Vote AGAINST IAA Merger.
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ISS Recommends Shareholders Vote Against the IAA Merger Citing Better Standalone Path, Deal Risks, Strategic Rationale, Board Credibility and Deal Process.
Glass Lewis Criticizes IAA Merger’s “Excessive Execution Risk, Procedural Concerns, Questionable Financial Assumptions, Unfavorable Relative Valuation, Dubious Risk/Reward Proposition” in its own Recommendation for Shareholders to Vote Against Merger.
A sum of 8382940 shares traded at recent session while its average daily volume was at 1.66M shares. Ritchie Bros. Auctioneers Incorporated shares reached a high of $63.87 and dropped to a low of $59.62 until finishing in the latest session at $60.89.
The one-year RBA stock forecast points to a potential upside of 8.78. The average equity rating for RBA stock is currently 2.10, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $66.75 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 2.10. 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.
Scotiabank have made an estimate for Ritchie Bros. Auctioneers Incorporated shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on December 05, 2022. The new note on the price target was released on November 14, 2022, representing the official price target for Ritchie Bros. Auctioneers Incorporated stock. Previously, the target price had yet another drop from $74 to $55, while BofA Securities kept a Neutral rating on RBA stock.
The Average True Range (ATR) for Ritchie Bros. Auctioneers Incorporated is set at 1.60, with the Price to Sales ratio for RBA stock in the period of the last 12 months amounting to 3.93. The Price to Book ratio for the last quarter was 5.24, with the Price to Cash per share for the same quarter was set at 4.42. Price to Free Cash Flow for RBA in the course of the last twelve months was 21.55 with Quick ratio for the last quarter at 1.10.
RBA Stock Performance Analysis:
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 -0.08. With this latest performance, RBA shares dropped by -1.74% in over the last four-week period, additionally sinking by -13.23% over the last 6 months – not to mention a rise of 7.92% 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 49.89, with the RSI for the last a single of trading hit 49.17, and the three-weeks RSI is set at 51.06 for Ritchie Bros. Auctioneers Incorporated [RBA]. The present Moving Average for the last 50 days of trading for this stock 60.10, while it was recorded at 60.12 for the last single week of trading, and 62.25 for the last 200 days.
Insight into Ritchie Bros. Auctioneers Incorporated Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Ritchie Bros. Auctioneers Incorporated [RBA] shares currently have an operating margin of +18.46 and a Gross Margin at +49.60. Ritchie Bros. Auctioneers Incorporated’s Net Margin is presently recorded at +18.44.
Return on Equity for this stock inclined to 26.85, with Return on Assets sitting at 9.89.
Ritchie Bros. Auctioneers Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.20.
RBA Stock EPS
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 7.00%.
Ritchie Bros. Auctioneers Incorporated [RBA] Insider Position Details
There are presently around $6,030 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 7,725,132, which is approximately 6.585% of the company’s market cap and around 14.30% of the total institutional ownership; BEUTEL, GOODMAN & CO LTD., holding 5,767,291 shares of the stock with an approximate value of $351.17 million in RBA stocks shares; and INDEPENDENT FRANCHISE PARTNERS LLP, currently with $297.68 million in RBA stock with ownership of nearly 131.904% of the company’s market capitalization.
Positions in Ritchie Bros. Auctioneers Incorporated stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 192 institutional holders increased their position in Ritchie Bros. Auctioneers Incorporated [NYSE:RBA] by around 23,953,906 shares. Additionally, 174 investors decreased positions by around 16,198,818 shares, while 30 investors held positions by with 58,883,214 shares. The mentioned changes placed institutional holdings at 99,035,938 shares, according to the latest SEC report filing. RBA stock had 81 new institutional investments in for a total of 9,176,285 shares, while 35 institutional investors sold positions of 2,631,486 shares during the same period.