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It's hard not to notice the market hype around investment-grade corporates right now — at 5% yield, IG bond yields are the highest since the global financial crisis, with flows into IG corporate bond ETFs hitting a record in January. But in all that excitement, investors may be missing some key information.
Shares of Ritchie Bros. Auctioneers Incorporated fell nearly 20% in November as the company announced its intention to acquire IAA. I was really cautious on the deal as well.
Starboard Value may be positioning itself to assist management at the heavy equipment auctioneer.
Ritchie Bros. (RBA) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Cramer spoke with Ritchie Bros CEO Ann Fandozzi on Wednesday.
The heavy selling pressure might have exhausted for Ritchie Bros. (RBA) as it is technically in oversold territory now.
Investors disliked its latest acquisition.
Ritchie Brothers. Auctioneers Incorporated (NYSE:RBA ) Q3 2022 Results Conference Call November 7, 2022 8:00 AM ET Company Participants Sameer Rathod - VP, IR & Market Intelligence Ann Fandozzi - CEO Eric Jacobs - CFO John Kett - CEO, IAA Conference Call Participants John Healy - Northcoast Research Michael Doumet - Scotiabank Gary Prestopino - Barrington Research Michael Feniger - Bank of America Craig Kennison - R.W.
Ritchie Bros. (RBA) delivered earnings and revenue surprises of 35.90% and 10.83%, respectively, for the quarter ended September 2022.
VANCOUVER, BC , Oct. 12, 2022 /PRNewswire/ - Ritchie Bros. (NYSE: RBA) (TSX: RBA) announced today that the company's third quarter financial results will be released before market open on Monday, November 7 th.