RBC Capital Remains a Hold on Rocky Mtn Dealership

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Services sector company, Rocky Mtn Dealership (TSX: RME). Analyst Deane Dray from RBC Capital reiterated a Hold rating, with a C$10 price target yesterday.

According to TipRanks.com, Dray is a 4-star analyst with an average return of 5.7% and a 61.9% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Emerson Electric Company, and United Technologies Corp.

Rocky Mtn Dealership has an analyst consensus of Moderate Buy, with a price target consensus of C$10.75.

Based on Rocky Mtn Dealership’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$210 million and quarterly net profit of C$811K. In comparison, last year the company earned revenue of C$189 million and had a net profit of C$264K.

Rocky Mountain Dealerships, Inc. operates as an independent dealer of agriculture and construction equipment. It also provides equipment inspections, field services, general repair, maintenance packages, post season inspections, and preventative maintenance. The company was founded on September 17, 2007 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $10.22.