Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative auction methods, attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world. “

A number of other equities research analysts also recently issued reports on the stock. National Bank Financial reissued a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, June 29th. BidaskClub downgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reissued a “hold” rating and set a $29.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Monday, May 15th. TheStreet downgraded shares of Ritchie Bros. Auctioneers from a “b” rating to a “c+” rating in a research report on Monday, May 8th. Finally, TD Securities reissued a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $35.96.

Shares of Ritchie Bros. Auctioneers (RBA) opened at 29.06 on Friday. Ritchie Bros. Auctioneers has a 52-week low of $27.13 and a 52-week high of $39.96. The stock has a market cap of $3.11 billion, a P/E ratio of 42.74 and a beta of 0.55. The firm’s 50 day moving average price is $30.60 and its 200 day moving average price is $32.21.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Tuesday, May 23rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, May 19th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 100.00%.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Bank & Trust boosted its position in Ritchie Bros. Auctioneers by 16.3% in the first quarter. First Bank & Trust now owns 5,191 shares of the business services provider’s stock worth $171,000 after buying an additional 727 shares during the period. FNY Managed Accounts LLC purchased a new position in Ritchie Bros. Auctioneers during the first quarter worth $176,000. Forward Management LLC boosted its position in Ritchie Bros. Auctioneers by 3.5% in the first quarter. Forward Management LLC now owns 5,528 shares of the business services provider’s stock worth $182,000 after buying an additional 188 shares during the period. World Asset Management Inc boosted its position in Ritchie Bros. Auctioneers by 0.7% in the first quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after buying an additional 43 shares during the period. Finally, Comerica Bank boosted its position in Ritchie Bros. Auctioneers by 10.9% in the fourth quarter. Comerica Bank now owns 6,693 shares of the business services provider’s stock worth $220,000 after buying an additional 659 shares during the period. Institutional investors own 95.12% of the company’s stock.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.

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Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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