Ritchie Bros. Auctioneers Stock Rating Upgraded by Zacks (RBA)
Ritchie Bros. Auctioneers (NYSE:RBA) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Tuesday, Analyst Ratings.Net reports. The firm currently has a $19.70 price objective on the stock. Zacks‘ price target indicates a potential upside of 2.71% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Longbow Research initiated coverage on shares of Ritchie Bros. Auctioneers (NYSE:RBA) in a research note to investors on Friday. They set a “neutral” rating on the stock. Separately, analysts at Raymond James downgraded shares of Ritchie Bros. Auctioneers (NYSE:RBA) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, July 10th. They now have a $20.00 price target on the stock, down previously from $22.00. Finally, analysts at Canaccord Genuity downgraded shares of Ritchie Bros. Auctioneers (NYSE:RBA) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, July 9th. They now have a $20.00 price target on the stock, down previously from $25.00.
Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.69.
Ritchie Bros. Auctioneers (NYSE:RBA) traded up 2.92% during mid-day trading on Tuesday, hitting $19.74. The stock had a trading volume of 737,409 shares. Ritchie Bros. Auctioneers has a 1-year low of $18.35 and a 1-year high of $23.57. The stock has a 50-day moving average of $18.99 and a 200-day moving average of $20.03. The company has a market cap of $2.109 billion and a P/E ratio of 27.80.
Ritchie Bros. Auctioneers (NYSE:RBA) last announced its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $128.32 million for the quarter, compared to the consensus estimate of $125.20 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Ritchie Bros. Auctioneers will post $0.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 13th. Investors of record on Friday, August 23rd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, August 21st.
Ritchie Bros. Auctioneers Incorporated and its subsidiaries sells industrial equipment and other assets for the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries at its unreserved auctions worldwide.
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