Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) had its price target cut by stock analysts at TD Securities from $25.00 to $23.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “reduce” rating on the business services provider’s stock. TD Securities’ target price would suggest a potential downside of 17.30% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Raymond James Financial, Inc. cut their price target on shares of Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a “market perform” rating on the stock in a report on Tuesday. Robert W. Baird reissued a “buy” rating and issued a $33.00 price target 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 stock an “outperform” rating in a report on Tuesday, September 12th. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, 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 report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.35.

Ritchie Bros. Auctioneers (NYSE RBA) traded down 4.53% during trading on Tuesday, reaching $27.81. 1,386,033 shares of the company traded hands. Ritchie Bros. Auctioneers has a 12-month low of $26.68 and a 12-month high of $39.96. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 60.59 and a beta of 0.57. The firm’s 50 day moving average price is $29.98 and its 200 day moving average price is $30.08.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results 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. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The company had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. During the same quarter last year, the firm earned $0.37 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Ritchie Bros. Auctioneers will post $0.85 earnings per share for the current year.

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In other news, CFO Sharon Ruth Driscoll purchased 1,375 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were acquired at an average price of $29.77 per share, with a total value of $40,933.75. Following the acquisition, the chief financial officer now directly owns 1,000 shares in the company, valued at $29,770. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.39% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of RBA. Lloyds Banking Group plc lifted its position in shares of Ritchie Bros. Auctioneers by 59.1% in the 2nd quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after purchasing an additional 1,656 shares during the period. First Bank & Trust lifted its position in shares of Ritchie Bros. Auctioneers by 3.8% in the 2nd quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after purchasing an additional 196 shares during the period. FNY Managed Accounts LLC purchased a new stake in shares of Ritchie Bros. Auctioneers in the 1st quarter worth about $176,000. Forward Management LLC lifted its position in shares of Ritchie Bros. Auctioneers by 11.0% in the 2nd quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock worth $176,000 after purchasing an additional 609 shares during the period. Finally, Comerica Bank lifted its position in shares of Ritchie Bros. Auctioneers by 0.7% in the 1st quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock worth $221,000 after purchasing an additional 44 shares during the period. 96.01% of the stock is 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.

Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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