Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) had its price objective cut by equities researchers at Raymond James Financial, Inc. from $29.00 to $26.50 in a report issued on Monday. The firm presently has a “market perform” rating on the business services provider’s stock. Raymond James Financial, Inc.’s target price would suggest a potential upside of 4.50% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Scotiabank set a $34.00 price objective on shares of Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research report on Tuesday, September 12th. 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. National Bank Financial decreased their price objective 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. TD Securities decreased their price objective 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. Finally, Robert W. Baird restated a “buy” rating and issued a $33.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Four equities 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. Ritchie Bros. Auctioneers presently has a consensus rating of “Hold” and an average price target of $30.06.

Ritchie Bros. Auctioneers (RBA) traded down $2.84 during midday trading on Monday, reaching $25.36. 3,169,400 shares of the company’s stock traded hands, compared to its average volume of 621,370. The stock has a market capitalization of $2,718.21, a P/E ratio of 30.19, a PEG ratio of 2.93 and a beta of 0.66. Ritchie Bros. Auctioneers has a 1-year low of $25.01 and a 1-year high of $39.96. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). The business had revenue of $141.05 million for the quarter, compared to analysts’ expectations of $139.96 million. Ritchie Bros. Auctioneers had a net margin of 11.43% and a return on equity of 13.04%. Ritchie Bros. Auctioneers’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. equities research analysts expect that Ritchie Bros. Auctioneers will post 0.91 EPS for the current fiscal year.

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In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll purchased 1,375 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average price of $29.77 per share, with a total value of $40,933.75. Following the completion of the purchase, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $29,770. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RBA. Lloyds Banking Group plc lifted its position in Ritchie Bros. Auctioneers by 59.1% during the second quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock valued at $128,000 after buying an additional 1,656 shares during the period. First Bank & Trust lifted its position in Ritchie Bros. Auctioneers by 3.8% during the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock valued at $155,000 after buying an additional 196 shares during the period. Forward Management LLC lifted its position in Ritchie Bros. Auctioneers by 11.0% during the second quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock valued at $176,000 after buying an additional 609 shares during the period. ETRADE Capital Management LLC purchased a new position in Ritchie Bros. Auctioneers during the third quarter valued at $218,000. Finally, Stephens Inc. AR lifted its position in Ritchie Bros. Auctioneers by 8.4% during the second quarter. Stephens Inc. AR now owns 8,296 shares of the business services provider’s stock valued at $238,000 after buying an additional 642 shares during the period. 96.01% of the stock is owned by institutional investors.

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.

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

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