Ritchie Bros. Auctioneers Incorporated (RBA) Given Average Rating of “Hold” by Brokerages
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) has been given a consensus rating of “Hold” by the fourteen analysts that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $31.28.
A number of equities research analysts have weighed in on the stock. Robert W. Baird reissued a “buy” rating and set a $33.00 target price on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. Scotiabank set a $34.00 price target on shares of Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. National Bank Financial dropped their price target on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating for the company in a research note 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 report on Wednesday, August 9th.
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In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll purchased 1,375 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was purchased at an average cost of $29.77 per share, for a total transaction of $40,933.75. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at approximately $29,770. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.39% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley boosted its holdings in shares of Ritchie Bros. Auctioneers by 1.7% during the 1st quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock worth $14,841,000 after buying an additional 7,478 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Ritchie Bros. Auctioneers by 2,029.1% during the 1st quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock worth $15,808,000 after buying an additional 457,917 shares during the period. Bradley Foster & Sargent Inc. CT acquired a new stake in shares of Ritchie Bros. Auctioneers during the 2nd quarter worth approximately $3,937,000. Oppenheimer Asset Management Inc. grew its position in shares of Ritchie Bros. Auctioneers by 3.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 116,601 shares of the business services provider’s stock worth $3,351,000 after buying an additional 3,601 shares during the period. Finally, Nicholas Company Inc. grew its position in shares of Ritchie Bros. Auctioneers by 332.7% during the 2nd quarter. Nicholas Company Inc. now owns 154,595 shares of the business services provider’s stock worth $4,443,000 after buying an additional 118,865 shares during the period. 96.01% of the stock is currently owned by hedge funds and other institutional investors.
Ritchie Bros. Auctioneers (NYSE RBA) traded down 0.72% during mid-day trading on Wednesday, hitting $30.28. 449,965 shares of the stock traded hands. The company has a 50 day moving average price of $29.87 and a 200-day moving average price of $30.16. Ritchie Bros. Auctioneers has a one year low of $26.68 and a one year high of $39.96. The stock has a market capitalization of $3.24 billion, a PE ratio of 65.54 and a beta of 0.57.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, beating 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 company had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $161.85 million. During the same period in the prior year, the company earned $0.37 EPS. Ritchie Bros. Auctioneers’s revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Ritchie Bros. Auctioneers will post $0.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.68 annualized dividend and a yield of 2.23%. Ritchie Bros. Auctioneers’s payout ratio is 144.68%.
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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