Weakness Seen in Ritchie Bros. Auctioneers (RBA): Stock Tumbles 7.2% - Tale of the Tape
Ritchie Bros. Auctioneers Incorporated ( RBA ) a big move on Friday, as the company's shares fell over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for RBA, as the stock is now down more than 2% in the past one-month time frame.
The company which belongs to the Auction and Valuation Services, has seen a mixed track record when it comes to current year estimate revisions over the past few weeks 1 decrease, and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
RBA currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Sotheby's ( BID ), ABM Industries Incorporated ( ABM ) and CoreLogic, Inc. ( CLGX ). All these stocks hold a Zacks Rank #2 (Buy).
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