Ritchie Bros. Auctioneers Incorporated (RBA) Given Average Rating of “Hold” by Brokerages
Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) have been assigned a consensus rating of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $31.06.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Royal Bank Of Canada set a $40.00 price target on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research report on Wednesday, August 9th. National Bank Financial cut their price target on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 9th. Scotiabank increased their price target on shares of Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Finally, TD Securities cut their price target on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating on the stock in a research report on Wednesday, August 9th.
Ritchie Bros. Auctioneers (NYSE RBA) traded up 0.44% on Friday, hitting $29.83. 357,253 shares of the stock traded hands. The company’s 50 day moving average price is $28.51 and its 200-day moving average price is $30.40. The stock has a market capitalization of $3.19 billion, a P/E ratio of 64.57 and a beta of 0.57. Ritchie Bros. Auctioneers has a 12-month low of $26.68 and a 12-month high of $39.96.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly 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 business had revenue of $166.20 million for the quarter, compared to the consensus estimate of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. Ritchie Bros. Auctioneers’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. Analysts predict that Ritchie Bros. Auctioneers will post $0.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 dividend on an annualized basis and a yield of 2.28%. Ritchie Bros. Auctioneers’s payout ratio is 144.68%.
In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll bought 1,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $28.59 per share, with a total value of $28,590.00. Following the purchase, the chief financial officer now owns 1,000 shares in the company, valued at $28,590. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of RBA. Janus Henderson Group PLC bought a new stake in Ritchie Bros. Auctioneers during the 2nd quarter worth approximately $175,728,000. Champlain Investment Partners LLC increased its stake in Ritchie Bros. Auctioneers by 87.9% during the 1st quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock worth $94,362,000 after purchasing an additional 1,341,355 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Ritchie Bros. Auctioneers by 57.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock worth $115,116,000 after purchasing an additional 1,271,836 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Ritchie Bros. Auctioneers by 148.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,256,159 shares of the business services provider’s stock worth $35,631,000 after purchasing an additional 750,038 shares in the last quarter. Finally, Riverbridge Partners LLC increased its stake in Ritchie Bros. Auctioneers by 18.4% during the 2nd quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock worth $104,618,000 after purchasing an additional 565,290 shares in the last quarter. 96.14% of the stock is owned by institutional investors and hedge funds.
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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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