Baird analyst Craig Kennison maintains $Ritchie Bros Auctioneers (RBA.US)$ with a buy rating, and adjusts the target price from $86 to $100.
According to TipRanks data, the analyst has a success rate of 52.9% and a total average return of 4.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ritchie Bros Auctioneers (RBA.US)$'s main analysts recently are as follows:
RB Global reported robust Q3 results, bolstered by an increase in its service revenue take rate, which helped to mitigate the impact of a softer gross transaction value. Furthermore, the company is experiencing market share gains, reinforcing the positive long-term outlook.
Although RB Global's Q3 revenue did not meet projections, its adjusted EBITDA and EPS exceeded expectations. The most significant development of the quarter was the company's selection as the exclusive salvage partner for a customer in Australia. RB Global is performing strongly in its core operations, and the customer acquisitions in IAA are indicative of potential above the company's base expectations.
The company exhibited EPS growth and provided a slightly higher forward guidance, emphasizing robust cost management amid a challenging macroeconomic climate.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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