Ritchie Bros. (RBA) Auction Proceeds to Grow as Sales Force Balloons
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Price: $84.26 -2.49%
Rating Summary:
11 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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On December 21st, Ritchie Bros. Auctioneers Incorporated (NYSE: RBA), the world's largest auctioneer of industrial equipment, announced it sold approximately $3.9 billion of equipment in 2012, a 5 percent increase in gross auction proceeds over 2011.
Commenting on developments, analysts at Jefferies said gross proceeds exceeded their expectations by $50 million.
Looking forward analyst Stephen Volkman said, "2013 is starting to look like a year of slightly lower prices and lower at risk percentage and more volume -- a good trade off for RBA. And a nearly 10% increase in the sales force should help Ritchie outperform the market."
Jefferies maintained a Hold rating on Ritchie Bros (NYSE: RBA) and increased its price target to $24.00 (from $21.00).
For an analyst ratings summary and ratings history on Ritchie Bros click here. For more ratings news on Ritchie Bros click here.
Shares of Ritchie Bros closed at $21.00 yesterday.
Commenting on developments, analysts at Jefferies said gross proceeds exceeded their expectations by $50 million.
Looking forward analyst Stephen Volkman said, "2013 is starting to look like a year of slightly lower prices and lower at risk percentage and more volume -- a good trade off for RBA. And a nearly 10% increase in the sales force should help Ritchie outperform the market."
Jefferies maintained a Hold rating on Ritchie Bros (NYSE: RBA) and increased its price target to $24.00 (from $21.00).
For an analyst ratings summary and ratings history on Ritchie Bros click here. For more ratings news on Ritchie Bros click here.
Shares of Ritchie Bros closed at $21.00 yesterday.
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