Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report issued on Monday, The Fly reports.

A number of other analysts have also recently commented on the company. Scotiabank set a $34.00 price target on Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research report on Tuesday, September 12th. Robert W. Baird reissued a “buy” rating and issued a $33.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Raymond James Financial, Inc. dropped their price target on Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 10th. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, TD Securities lowered their price objective on Ritchie Bros. Auctioneers from $25.00 to $23.00 and set a “reduce” rating on the stock in a research report on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.20.

Shares of Ritchie Bros. Auctioneers (NYSE RBA) traded up $0.11 on Monday, hitting $25.29. The stock had a trading volume of 970,600 shares, compared to its average volume of 657,458. 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 has a 12-month low of $24.08 and a 12-month high of $39.96. The company has a market cap of $2,710.71, a PE ratio of 30.11, a P/E/G ratio of 3.14 and a beta of 0.66.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. The company had revenue of $141.05 million during the quarter, compared to the consensus estimate of $139.96 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. sell-side analysts forecast that Ritchie Bros. Auctioneers will post 0.85 EPS for the current fiscal year.

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In other news, CFO Sharon Ruth Driscoll purchased 1,375 shares of the stock in a transaction dated Thursday, September 7th. The shares were purchased at an average cost 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 of the company’s stock, valued at $29,770. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in shares of Ritchie Bros. Auctioneers by 338.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock worth $303,000 after purchasing an additional 6,257 shares in the last quarter. Intact Investment Management Inc. increased its stake in Ritchie Bros. Auctioneers by 59.0% in the 3rd quarter. Intact Investment Management Inc. now owns 67,080 shares of the business services provider’s stock worth $2,624,000 after buying an additional 24,900 shares in the last quarter. Marathon Asset Management LLP increased its stake in Ritchie Bros. Auctioneers by 54.9% in the 3rd quarter. Marathon Asset Management LLP now owns 1,796,051 shares of the business services provider’s stock worth $56,645,000 after buying an additional 636,529 shares in the last quarter. FMR LLC increased its stake in Ritchie Bros. Auctioneers by 280.3% in the 2nd quarter. FMR LLC now owns 341,000 shares of the business services provider’s stock worth $9,798,000 after buying an additional 251,323 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Ritchie Bros. Auctioneers by 3.2% in 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 in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

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

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