Ritchie Bros. Auctioneers Inc (TSE:RBA) Price Target Cut to C$38.00 by Analysts at Raymond James Financial, Inc.
Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) had its price objective dropped by Raymond James Financial, Inc. to C$38.00 in a research note issued to investors on Tuesday, StockTargetPrices.com reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial, Inc.’s price target indicates a potential upside of 9.29% from the company’s current price.
RBA has been the topic of several other reports. Scotiabank lowered Ritchie Bros. Auctioneers to an “outperform” rating and set a C$44.00 price target on the stock. in a research report on Monday, March 20th. National Bank Financial reiterated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. TD Securities lifted their target price on Ritchie Bros. Auctioneers from C$31.00 to C$37.50 and gave the stock a “reduce” rating in a report on Monday, April 10th. Northcoast Research reiterated a “neutral” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, May 5th. Finally, Barrington Research reiterated a “market perform” rating on shares of Ritchie Bros. Auctioneers in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of C$39.50.
Ritchie Bros. Auctioneers (TSE RBA) traded up 2.10% on Tuesday, reaching $35.50. The company had a trading volume of 120,668 shares. Ritchie Bros. Auctioneers has a 12 month low of $34.45 and a 12 month high of $52.88. The firm has a 50 day moving average price of $41.06 and a 200-day moving average price of $42.97. The stock has a market capitalization of $3.80 billion and a price-to-earnings ratio of 52.21.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Tuesday, June 13th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 19th. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a yield of 1.96%.
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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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