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Why You Shouldn't Bet Against Ritchie Bros. Auctioneers (RBA) Stock

Zacks Equity Research
Updated

One stock that might be an intriguing choice for investors right now is Ritchie Bros. Auctioneers Incorporated RBA. This is because this security in the Auction and Valuation Services space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Auction and Valuation Services space as it currently has a Zacks Industry Rank of 30 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Ritchie Bros. Auctioneers is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Ritchie Bros. Auctioneers Incorporated Price and Consensus

Ritchie Bros. Auctioneers Incorporated Price and Consensus | Ritchie Bros. Auctioneers Incorporated Quote

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In fact, over the past month, current quarter estimates have risen from 14 cents per share to 15 cents per share, while current year estimates have risen from $1.02 per share to $1.03 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider Ritchie Bros. Auctioneers. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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Ritchie Bros. Auctioneers Incorporated (RBA) : Free Stock Analysis Report
 
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Zacks Investment Research