Bank of America Corp. Reaffirms Hold Rating for Ritchie Bros. Auctioneers Inc. (RBA)
Ritchie Bros. Auctioneers Inc. (NYSE:RBA)‘s stock had its “hold” rating reissued by equities research analysts at Bank of America Corp. in a report issued on Monday. They currently have a $37.50 price objective on the stock. Bank of America Corp.’s price objective suggests a potential upside of 6.62% from the stock’s current price.
Several other research firms also recently commented on RBA. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Royal Bank Of Canada increased their target price on Ritchie Bros. Auctioneers from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 31st. Jefferies Group downgraded Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research report on Friday, July 15th. They noted that the move was a valuation call. RBC Capital Markets reiterated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, August 30th. Finally, OTR Global reiterated a “negative” rating on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.95.
Ritchie Bros. Auctioneers (NYSE:RBA) traded up 2.08% during trading on Monday, hitting $35.90. The stock had a trading volume of 307,503 shares. The firm has a market capitalization of $3.83 billion, a P/E ratio of 28.11 and a beta of 0.48. Ritchie Bros. Auctioneers has a one year low of $21.03 and a one year high of $37.23. The stock has a 50 day moving average of $33.34 and a 200 day moving average of $31.66.
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Ritchie Bros. Auctioneers (NYSE:RBA) last posted its earnings results on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.44 by $0.07. The firm earned $158.80 million during the quarter, compared to the consensus estimate of $160.96 million. Ritchie Bros. Auctioneers had a net margin of 25.39% and a return on equity of 16.55%. Ritchie Bros. Auctioneers’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. Equities research analysts expect that Ritchie Bros. Auctioneers will post $1.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were paid a $0.17 dividend. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, August 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.93%. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 53.97%.
In other news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the stock in a transaction dated Friday, September 16th. The stock was 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 owns 6,600 shares of the company’s stock, valued at $224,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.67% of the stock is owned by insiders.
Several large investors have recently modified their holdings of RBA. Primecap Management Co. CA boosted its stake in shares of Ritchie Bros. Auctioneers by 3.1% in the first quarter. Primecap Management Co. CA now owns 7,331,480 shares of the company’s stock valued at $198,536,000 after buying an additional 223,300 shares during the last quarter. Janus Capital Management LLC boosted its stake in Ritchie Bros. Auctioneers by 4.5% in the second quarter. Janus Capital Management LLC now owns 5,867,441 shares of the company’s stock valued at $198,202,000 after buying an additional 251,789 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Ritchie Bros. Auctioneers by 16.1% in the second quarter. Neuberger Berman Group LLC now owns 1,973,102 shares of the company’s stock valued at $66,651,000 after buying an additional 273,300 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Ritchie Bros. Auctioneers by 2.1% in the second quarter. GW&K Investment Management LLC now owns 1,941,974 shares of the company’s stock valued at $65,600,000 after buying an additional 40,651 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Ritchie Bros. Auctioneers during the second quarter valued at approximately $60,930,000. 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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