Ritchie Bros. Auctioneers Inc. (RBA) Shares Gap Up to $34.82
Ritchie Bros. Auctioneers Inc. (NYSE:RBA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $34.75, but opened at $34.82. Ritchie Bros. Auctioneers shares last traded at $35.03, with a volume of 78,857 shares.
A number of equities analysts have issued reports on the company. KeyCorp assumed coverage on Ritchie Bros. Auctioneers in a report on Friday, May 27th. They set a “sector weight” rating for the company. TD Securities reiterated a “reduce” rating and set a $26.00 target price on shares of Ritchie Bros. Auctioneers in a report on Saturday, August 13th. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “buy” rating to a “sell” rating in a report on Wednesday, July 13th. Jefferies Group increased their target price on Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the stock a “hold” rating in a report on Wednesday, August 31st. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $38.00 target price (up previously from $29.00) on shares of Ritchie Bros. Auctioneers in a report on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $32.55.
The stock’s 50 day moving average is $31.55 and its 200 day moving average is $30.84. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 27.47 and a beta of 0.60.
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Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.07. Ritchie Bros. Auctioneers had a net margin of 25.39% and a return on equity of 16.55%. The company earned $158.80 million during the quarter, compared to the consensus estimate of $160.96 million. During the same period last year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Ritchie Bros. Auctioneers Inc. will post $1.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be paid a $0.17 dividend. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, August 31st. Ritchie Bros. Auctioneers’s payout ratio is 53.97%.
In other Ritchie Bros. Auctioneers news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of Ritchie Bros. Auctioneers stock in a transaction on Friday, September 16th. The shares were sold at an average price of $34.00, for a total value of $224,400.00. Following the completion of the sale, the vice president now directly owns 6,600 shares of the company’s stock, valued at $224,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp increased its stake in Ritchie Bros. Auctioneers by 111.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 36,200 shares of the company’s stock valued at $982,000 after buying an additional 19,100 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Ritchie Bros. Auctioneers during the first quarter valued at approximately $26,028,000. M&T Bank Corp acquired a new stake in Ritchie Bros. Auctioneers during the first quarter valued at approximately $225,000. Landscape Capital Management L.L.C. acquired a new stake in Ritchie Bros. Auctioneers during the first quarter valued at approximately $2,721,000. Finally, Palisade Capital Management LLC NJ increased its stake in Ritchie Bros. Auctioneers by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 526,507 shares of the company’s stock valued at $14,258,000 after buying an additional 50,477 shares during the last quarter. 86.29% of the stock is owned by institutional investors.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers Incorporated is a holding company. The Company is an auctioneer of industrial equipment. The Company is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.
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