Ritchie Bros. Auctioneers’ (RBA) “Hold” Rating Reaffirmed at Bank of America Corp.
Ritchie Bros. Auctioneers Inc. (NYSE:RBA)‘s stock had its “hold” rating restated by equities researchers at Bank of America Corp. in a research note issued on Monday. They presently have a $37.50 price objective on the stock. Bank of America Corp.’s price target would suggest a potential upside of 6.62% from the company’s previous close.
A number of other research firms have also weighed in on RBA. Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Royal Bank Of Canada lifted their price target on shares of 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 lowered shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research report on Friday, July 15th. They noted that the move was a valuation call. RBC Capital Markets reaffirmed an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, August 30th. Finally, OTR Global reaffirmed 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 presently has an average rating of “Hold” and a consensus price target of $33.95.
Ritchie Bros. Auctioneers (NYSE:RBA) traded up 2.02% on Monday, hitting $35.88. The stock had a trading volume of 357,501 shares. The firm’s 50 day moving average price is $33.34 and its 200-day moving average price is $31.66. Ritchie Bros. Auctioneers has a 12 month low of $21.03 and a 12 month high of $37.23. The stock has a market cap of $3.83 billion, a PE ratio of 28.10 and a beta of 0.48.
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Ritchie Bros. Auctioneers (NYSE:RBA) last released its earnings results on Tuesday, August 9th. The company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.07. Ritchie Bros. Auctioneers had a return on equity of 16.55% and a net margin of 25.39%. The business earned $158.80 million during the quarter, compared to analysts’ expectations of $160.96 million. During the same period last year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that Ritchie Bros. Auctioneers will post $1.17 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.93%. Ritchie Bros. Auctioneers’s payout ratio is 53.97%.
In other news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the company’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. First Mercantile Trust Co. purchased a new position in Ritchie Bros. Auctioneers during the third quarter valued at about $274,000. Tobam boosted its position in Ritchie Bros. Auctioneers by 59.8% in the second quarter. Tobam now owns 148,900 shares of the company’s stock valued at $5,006,000 after buying an additional 55,700 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in Ritchie Bros. Auctioneers by 171.9% in the second quarter. Hillsdale Investment Management Inc. now owns 11,690 shares of the company’s stock valued at $395,000 after buying an additional 7,390 shares in the last quarter. Numeric Investors LLC purchased a new position in Ritchie Bros. Auctioneers during the second quarter valued at about $625,000. Finally, Paloma Partners Management Co purchased a new position in Ritchie Bros. Auctioneers during the second quarter valued at about $565,000. 86.29% of the stock is owned by institutional investors and hedge funds.
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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