CIBC Lowers Rocky Mountain Dealerships (TSE:RME) to Neutral

CIBC cut shares of Rocky Mountain Dealerships (TSE:RME) from an outperform rating to a neutral rating in a research note published on Tuesday, January 9th. The brokerage currently has C$15.00 target price on the stock, up from their prior target price of C$13.50.

A number of other analysts also recently issued reports on RME. TD Securities raised their target price on Rocky Mountain Dealerships from C$13.50 to C$16.00 and gave the stock a buy rating in a research report on Monday, January 8th. National Bank Financial raised their target price on Rocky Mountain Dealerships from C$14.00 to C$15.00 and gave the stock an outperform rating in a research report on Monday, December 4th. Finally, Raymond James Financial raised their price target on Rocky Mountain Dealerships from C$13.00 to C$14.50 and gave the stock an outperform rating in a report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Rocky Mountain Dealerships currently has a consensus rating of Buy and an average target price of C$14.10.

Shares of Rocky Mountain Dealerships (TSE:RME) opened at C$13.88 on Tuesday. The company has a market capitalization of $270.78, a P/E ratio of 13.88 and a beta of 0.97. Rocky Mountain Dealerships has a 52 week low of C$9.20 and a 52 week high of C$14.34.

Rocky Mountain Dealerships (TSE:RME) last issued its quarterly earnings results on Wednesday, November 8th. The company reported C$0.44 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.33 by C$0.11. Rocky Mountain Dealerships had a return on equity of 19.81% and a net margin of 3.80%.

In other Rocky Mountain Dealerships news, Director Garrett Andrew Wyatt Ganden sold 50,000 shares of Rocky Mountain Dealerships stock in a transaction dated Monday, December 4th. The stock was sold at an average price of C$13.60, for a total transaction of C$680,000.00. Also, insider Jerald Palmer sold 15,000 shares of Rocky Mountain Dealerships stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of C$12.38, for a total value of C$185,700.00. Insiders have sold 127,600 shares of company stock valued at $1,678,900 in the last three months.

COPYRIGHT VIOLATION NOTICE: “CIBC Lowers Rocky Mountain Dealerships (TSE:RME) to Neutral” was first reported by Week Herald and is the sole property of of Week Herald. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://weekherald.com/2018/01/18/rocky-mountain-dealerships-rme-rating-lowered-to-neutral-at-cibc.html.

Rocky Mountain Dealerships Company Profile

Rocky Mountain Dealerships Inc is an agriculture equipment dealer with a network of full-service agriculture and industrial equipment stores across the Canadian Prairie Provinces. The Company operates in two segments: agriculture segment and industrial segment. The agriculture segment primarily includes sales of agricultural equipment, parts and services, and the industrial segment includes sales of industrial equipment, parts and services.

Analyst Recommendations for Rocky Mountain Dealerships (TSE:RME)

Receive News & Ratings for Rocky Mountain Dealerships Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocky Mountain Dealerships and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply