Insider Buying: Ritchie Bros. Auctioneers Incorporated (RBA) CFO Acquires 1,000 Shares of Stock
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) CFO Sharon Ruth Driscoll acquired 1,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was purchased at an average price of $28.59 per share, for a total transaction of $28,590.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $28,590. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) traded down 0.17% during mid-day trading on Monday, reaching $28.58. The company had a trading volume of 355,004 shares. Ritchie Bros. Auctioneers Incorporated has a one year low of $26.68 and a one year high of $39.96. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 61.86 and a beta of 0.55. The stock has a 50 day moving average of $28.06 and a 200-day moving average of $30.51.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. Equities analysts predict that Ritchie Bros. Auctioneers Incorporated will post $0.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s payout ratio is 144.68%.
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A number of research analysts have commented on RBA shares. Royal Bank Of Canada set a $40.00 price objective on Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research report on Wednesday, August 9th. TheStreet lowered Ritchie Bros. Auctioneers from a “b” rating to a “c+” rating in a research report on Monday, May 8th. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 8th. BidaskClub upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $29.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $33.36.
Several large investors have recently made changes to their positions in RBA. Karp Capital Management Corp bought a new stake in shares of Ritchie Bros. Auctioneers during the first quarter worth $4,034,000. World Asset Management Inc raised its stake in shares of 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 last quarter. Swiss National Bank raised its stake in shares of Ritchie Bros. Auctioneers by 0.8% in the first quarter. Swiss National Bank now owns 177,900 shares of the business services provider’s stock worth $5,855,000 after buying an additional 1,400 shares during the last quarter. Forward Management LLC raised its stake in shares of 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 last quarter. Finally, Comerica Bank raised its stake in shares of Ritchie Bros. Auctioneers by 0.7% in the first quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock worth $221,000 after buying an additional 44 shares during the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.
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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