Raymond James Financial, Inc. Lowers Ritchie Bros. Auctioneers Incorporated (RBA) Price Target to $29.50
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) had its price objective reduced by research analysts at Raymond James Financial, Inc. from $33.50 to $29.50 in a research note issued to investors on Tuesday. The firm presently has a “market perform” rating on the business services provider’s stock. Raymond James Financial, Inc.’s price target indicates a potential upside of 9.38% from the company’s current price.
Several other brokerages have also recently issued reports on RBA. National Bank Financial reaffirmed a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, June 29th. Jefferies Group LLC reissued a “hold” rating and set a $29.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Friday, May 5th. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 9th. CIBC cut shares of Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price target on the stock. in a research report on Monday. Finally, TD Securities reissued a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and a consensus price target of $33.75.
Ritchie Bros. Auctioneers (NYSE RBA) traded up 1.89% during trading on Tuesday, reaching $27.48. 498,100 shares of the company’s stock traded hands. The firm has a market capitalization of $2.94 billion, a PE ratio of 40.41 and a beta of 0.56. Ritchie Bros. Auctioneers has a one year low of $26.68 and a one year high of $39.96. The company has a 50-day moving average price of $30.60 and a 200 day moving average price of $32.21.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Tuesday, May 23rd were given a $0.17 dividend. The ex-dividend date was Friday, May 19th. This represents a $0.68 dividend on an annualized basis and a yield of 2.52%. Ritchie Bros. Auctioneers’s payout ratio is currently 100.00%.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. CGOV Asset Management raised its stake in shares of Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock worth $304,466,000 after buying an additional 4,175,593 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers during the third quarter worth about $122,557,000. Bank of Montreal Can acquired a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth about $60,930,000. Norges Bank acquired a new stake in shares of Ritchie Bros. Auctioneers during the fourth quarter worth about $53,619,000. Finally, Champlain Investment Partners LLC raised its stake in shares of Ritchie Bros. Auctioneers by 87.9% in the first quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock worth $94,362,000 after buying an additional 1,341,355 shares during the period. 95.12% of the stock is currently owned by institutional investors.
About Ritchie Bros. Auctioneers
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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