Ritchie Bros. Auctioneers Inc (RBA) Receives Average Recommendation of “Hold” from Brokerages
Shares of Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) have received an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$39.50.
Several analysts recently issued reports on the company. Scotiabank reiterated an “outperform” rating and set a C$41.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. National Bank Financial reiterated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. Raymond James Financial, Inc. cut their price objective on Ritchie Bros. Auctioneers to C$38.00 and set a “market perform” rating for the company in a report on Tuesday, July 11th. TD Securities cut their target price on Ritchie Bros. Auctioneers to C$35.00 and set a “reduce” rating on the stock in a report on Monday, July 10th. Finally, CIBC lowered Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and cut their target price for the company from C$36.00 to C$28.00 in a report on Monday, July 10th.
Shares of Ritchie Bros. Auctioneers (TSE RBA) opened at 37.09 on Friday. Ritchie Bros. Auctioneers has a 12 month low of $34.03 and a 12 month high of $52.88. The stock has a market cap of $3.97 billion and a P/E ratio of 80.28. The stock has a 50 day moving average price of $35.95 and a 200 day moving average price of $39.74.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.68 annualized dividend and a yield of 1.83%.
In related news, insider Sharon Driscoll bought 1,375 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were bought at an average cost of C$36.17 per share, for a total transaction of C$49,733.75.
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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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