Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative auction methods, attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world.
This publicly traded company hit 17 new highs and is up 19.77% in just the last 20 treading session. The price momentum and a rising Relative Strength Index of 80.50% has earned it a 96% Barchart technical buy signal. The stock recently traded at 24.48% which is well above its 50 day moving average of 21.26.
Wall Street brokerage analysts have been slow to notice it's recently price rise and still have 2 buy 14 hold and 2 negative recommendations, They do however look for an 11.40% increase is sales next year coupled with a 20.30% increase in earnings per share. They project earnings to increase 16.03% annually for at least 5 years out.
The general investor has already noticed this stock with the Motley Fool CAPS members voting 155 to 10 that the stock will beat the market. The All Stars are also high 70 to 3.
If you are looking for a stock that should do well as the recession continues Ritchie Bros (RBA) has:
- 96% Barchart technical buy signal
- 17 new highs and up 19.77% in the last month
- Positive investor sentiment
Jim Van Meerten is a professional investor with over 40 year experience in investing in stocks, mutual funds and ETFs. He shares his knowledge on Barchart in his daily blogs -- Barchart Portfolio Blogs.
Through Marketocracy Capital Management you can have a Separately Managed Account that mirrors his Barchart Van Meerten New High portfolio.
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