Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) had its target price boosted by research analysts at Scotiabank from $29.00 to $35.00 in a report released on Wednesday. The brokerage currently has an “outperform” rating on the business services provider’s stock. Scotiabank’s target price would suggest a potential upside of 10.48% from the stock’s previous close.
RBA has been the topic of several other research reports. TD Securities lifted their price objective on shares of Ritchie Bros. Auctioneers from $22.00 to $25.00 and gave the stock a “reduce” rating in a research report on Wednesday. Oppenheimer reiterated a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, November 13th. Raymond James Financial reduced their target price on shares of Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a “market perform” rating for the company in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, National Bank Financial upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $30.50 in a research note on Monday, November 20th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.30.
Shares of Ritchie Bros. Auctioneers (NYSE RBA) traded up $0.74 during mid-day trading on Wednesday, reaching $31.68. 356,199 shares of the company’s stock traded hands, compared to its average volume of 678,003. The company has a market capitalization of $3,400.00, a price-to-earnings ratio of 51.93, a price-to-earnings-growth ratio of 3.40 and a beta of 0.63. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. Ritchie Bros. Auctioneers has a twelve month low of $24.08 and a twelve month high of $35.21.
In related news, insider Karl William Werner sold 5,400 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $28.68, for a total transaction of $154,872.00. Following the completion of the transaction, the insider now owns 5,400 shares of the company’s stock, valued at $154,872. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in Ritchie Bros. Auctioneers in the 4th quarter worth approximately $1,312,000. Russell Frank Co grew its stake in 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 in the last quarter. Capital Fund Management S.A. grew its stake in 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 in the last quarter. Numeric Investors LLC grew its stake in 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 in the last quarter. Finally, Eagle Asset Management Inc. grew its stake in 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 in the last quarter. 96.61% of the stock is owned by institutional investors.
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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.
