In a report regarding Ritchie Bros. Auctioneers RBA, Jefferies & Company said that economic uncertainty coupled with a tight supply of late-model used equipment has led to a lack of selling urgency on the part of contractors with idled equipment.
“We expect this to continue to pressure gross auction proceeds over the near-term,” Jefferies writes. “There is no change to our Hold rating.”
Ritchie Bros. Auctioneers closed Friday at $20.01.
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Posted In: Analyst RatingsDiversified Commercial & Professional ServicesIndustrialsJefferies & CompanyRitchie Bros. Auctioneers
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