Ritchie Bros Auctioneers Inc (NYSE: RBA) has recently enjoyed extremely important positive changes in investment behavior: the stock rose on very heavy volume, and its shorter term price trend turned up.
Notable positive changes in fundamentals have recently occurred for Ritchie Bros Auctioneers Inc (NYSE: RBA): significant quarterly sales acceleration occurred, and the consensus estimate for December, 2024 increased significantly.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
RBA’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Ritchie Bros Auctioneers has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Ritchie Bros Auctioneers has a slightly positive Power Rating of 65 and a good Appreciation Score of 82, resulting in the Highest Value Trend Rating.
Recent Price Action
Ritchie Bros Auctioneers Inc (NYSE: RBA) stock closed at $80.72 on 6/12/24 after an increase of 1.5%. Moreover, this advance was accompanied by exceptionally high trading volume at 286% of normal. The stock has risen 11.5% during the last week and has been strong relative to the market over the last nine months.
Be the first to comment