Raymond James Financial, Inc. Trims Ritchie Bros. Auctioneers Incorporated (RBA) Target Price to $29.00
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) had its price target lowered by Raymond James Financial, Inc. from $29.50 to $29.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “market perform” rating on the business services provider’s stock. Raymond James Financial, Inc.’s price target points to a potential upside of 4.28% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. National Bank Financial reiterated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. TD Securities cut their price target on shares of Ritchie Bros. Auctioneers from $28.00 to $27.00 and set a “reduce” rating on the stock in a report on Monday, July 10th. Scotiabank increased their price target on shares of Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. BidaskClub upgraded shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $33.00 price target on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Ritchie Bros. Auctioneers has an average rating of “Hold” and a consensus price target of $31.35.
Shares of Ritchie Bros. Auctioneers (RBA) traded down 4.53% on Tuesday, reaching $27.81. 1,386,033 shares of the company were exchanged. The company’s 50-day moving average is $29.98 and its 200-day moving average is $30.08. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 60.59 and a beta of 0.57.
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, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The firm had revenue of $166.20 million during 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%. Ritchie Bros. Auctioneers’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. On average, equities analysts expect that Ritchie Bros. Auctioneers will post $0.85 EPS for the current fiscal year.
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In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of $28.59 per share, for a total transaction of $28,590.00. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at $28,590. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of RBA. Janus Henderson Group PLC acquired a new stake in shares of Ritchie Bros. Auctioneers during the 2nd quarter worth approximately $175,728,000. Champlain Investment Partners LLC grew its stake in shares of 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 during the period. Ameriprise Financial Inc. grew its stake in shares of 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 during the period. Riverbridge Partners LLC grew its stake in shares of 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 during the period. Finally, Mondrian Investment Partners LTD grew its stake in shares of Ritchie Bros. Auctioneers by 25.3% during the 2nd quarter. Mondrian Investment Partners LTD now owns 2,769,446 shares of the business services provider’s stock worth $103,190,000 after purchasing an additional 559,556 shares during the period. 96.01% of the stock is currently owned by institutional investors and hedge funds.
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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