Robert W. Baird Thinks Ritchie Bros’ Stock is Going to Recover

In a report released yesterday, Craig Kennison from Robert W. Baird reiterated a Buy rating on Ritchie Bros (NYSE: RBA), with a price target of $30. The company’s shares closed yesterday at $25.36, close to its 52-week low of $25.01.

According to TipRanks.com, Kennison is a 5-star analyst with an average return of 17.8% and a 72.0% success rate. Kennison covers the Consumer Goods sector, focusing on stocks such as Brunswick Corporation, Winnebago Industries, and Honda Motor Company.

Ritchie Bros has an analyst consensus of Hold, with a price target consensus of $26.33.

Ritchie Bros’ market cap is currently $2.72B and has a P/E ratio of 53.96. The company has a book value ratio of 3.8158.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RBA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ritchie Bros. Auctioneers, Inc. is an industrial auctioneer, selling equipment to on-site and online bidders. It offers convenient services to make buying and selling equipment easier, including financing, shipping, refurbishing, powertrain service warranties and insurance.

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