Jefferies Maintains Ritchie Bros. Rating

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.