Ritchie Bros. Auctioneers Incorporated (RBA) Receives Average Rating of “Hold” from Analysts
Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) have received a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $32.32.
A number of equities analysts recently commented on RBA shares. Royal Bank Of Canada set a $41.00 price objective on Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research report on Saturday, April 22nd. William Blair reiterated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, April 24th. Jefferies Group LLC reiterated a “hold” rating and set a $29.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Friday, May 5th. Scotiabank reduced their price objective on Ritchie Bros. Auctioneers from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Monday, May 8th. Finally, TD Securities reiterated a “sell” rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, May 9th.
Ritchie Bros. Auctioneers (NYSE RBA) traded up 1.26% during trading on Tuesday, hitting $28.15. The stock had a trading volume of 299,508 shares. The company has a market cap of $3.01 billion, a PE ratio of 60.93 and a beta of 0.55. Ritchie Bros. Auctioneers has a 12 month low of $26.68 and a 12 month high of $39.96. The company’s 50 day moving average is $28.15 and its 200-day moving average is $30.73.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The firm had revenue of $166.20 million for the quarter, compared to the consensus estimate of $161.85 million. During the same quarter last year, the business posted $0.37 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Ritchie Bros. Auctioneers will post $1.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.68 annualized dividend and a yield of 2.45%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 144.68%.
Large investors have recently bought and sold shares of the company. CGOV Asset Management boosted its stake in 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 valued at $304,466,000 after buying an additional 4,175,593 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth $175,728,000. Burgundy Asset Management Ltd. boosted its stake in shares of Ritchie Bros. Auctioneers by 3.0% in the first quarter. Burgundy Asset Management Ltd. now owns 4,748,682 shares of the business services provider’s stock worth $156,232,000 after buying an additional 139,456 shares during the last quarter. Riverbridge Partners LLC boosted its stake in shares of Ritchie Bros. Auctioneers by 18.4% in the second quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock worth $104,618,000 after buying an additional 565,290 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Ritchie Bros. Auctioneers by 57.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock worth $115,116,000 after buying an additional 1,271,836 shares during the last quarter. 94.17% of the stock is owned by institutional investors.
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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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