Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) had its price target increased by research analysts at TD Securities from $22.00 to $25.00 in a research note issued on Wednesday. The firm currently has a “reduce” rating on the business services provider’s stock. TD Securities’ price target suggests a potential downside of 21.09% from the stock’s previous close.
A number of other equities research analysts have also commented on the stock. Scotiabank set a $34.00 price target on shares of Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a report on Tuesday, September 12th. Oppenheimer reissued a “hold” rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, November 13th. Robert W. Baird reissued a “buy” rating and set a $33.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Bank of America reduced their price objective on shares of Ritchie Bros. Auctioneers from $22.50 to $21.50 and set an “underperform” rating on the stock in a research report on Thursday, November 16th. Finally, Raymond James Financial reduced their price objective on shares of 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. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $30.30.
Ritchie Bros. Auctioneers (RBA) traded up $0.74 during trading hours on Wednesday, reaching $31.68. 356,199 shares of the company were exchanged, compared to its average volume of 678,003. Ritchie Bros. Auctioneers has a 52 week low of $24.08 and a 52 week high of $35.21. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.11. The company has a market cap of $3,400.00, a price-to-earnings ratio of 51.93, a P/E/G ratio of 3.40 and a beta of 0.63.
In other news, insider Karl William Werner sold 5,400 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $28.68, for a total value of $154,872.00. Following the sale, the insider now directly owns 5,400 shares of the company’s stock, valued at approximately $154,872. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in RBA. DekaBank Deutsche Girozentrale purchased a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter worth about $1,312,000. Russell Frank Co grew its position in shares of Ritchie Bros. Auctioneers by 44.9% in the 4th quarter. Russell Frank Co now owns 1,228,015 shares of the business services provider’s stock worth $30,321,000 after buying an additional 380,694 shares during the period. Capital Fund Management S.A. grew its position in shares of Ritchie Bros. Auctioneers by 332.2% in the 4th quarter. Capital Fund Management S.A. now owns 82,608 shares of the business services provider’s stock worth $1,992,000 after buying an additional 63,496 shares during the period. Numeric Investors LLC grew its position in shares of Ritchie Bros. Auctioneers by 5.3% in the 4th quarter. Numeric Investors LLC now owns 1,134,761 shares of the business services provider’s stock worth $27,359,000 after buying an additional 57,177 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of Ritchie Bros. Auctioneers by 9.8% in the 4th quarter. Eagle Asset Management Inc. now owns 150,711 shares of the business services provider’s stock worth $3,633,000 after buying an additional 13,429 shares during the period. 96.61% of the stock is currently owned by hedge funds and other 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.
