Ritchie Bros. Auctioneers (RBA) Rating Lowered to Hold at ValuEngine

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

RBA has been the subject of a number of other reports. Royal Bank of Canada initiated coverage on Ritchie Bros. Auctioneers in a report on Friday, April 6th. They issued a “sector perform” rating and a $33.00 price target for the company. National Bank Financial cut Ritchie Bros. Auctioneers from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $37.00 to $35.00 in a report on Thursday, April 19th. Scotiabank boosted their price target on Ritchie Bros. Auctioneers from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Bank of America boosted their price target on Ritchie Bros. Auctioneers from $21.50 to $30.00 and gave the stock an “underperform” rating in a report on Thursday, February 1st. Finally, Jefferies Group reissued a “hold” rating and issued a $30.00 price target on shares of Ritchie Bros. Auctioneers in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Ritchie Bros. Auctioneers currently has an average rating of “Hold” and an average price target of $32.40.

RBA traded down $0.29 during trading on Thursday, reaching $32.76. 291,000 shares of the stock were exchanged, compared to its average volume of 596,463. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.23. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 3.31 and a beta of 0.70. Ritchie Bros. Auctioneers has a 1 year low of $32.84 and a 1 year high of $33.17.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, May 10th. The business services provider reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). Ritchie Bros. Auctioneers had a return on equity of 12.50% and a net margin of 10.96%. The company had revenue of $169.80 million during the quarter, compared to analyst estimates of $153.56 million. During the same period last year, the firm earned $0.12 earnings per share. The business’s revenue was up 36.4% compared to the same quarter last year. analysts predict that Ritchie Bros. Auctioneers will post 1.05 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC increased its stake in Ritchie Bros. Auctioneers by 3.1% in the first quarter. Champlain Investment Partners LLC now owns 6,290,910 shares of the business services provider’s stock valued at $197,975,000 after purchasing an additional 190,325 shares during the last quarter. Burgundy Asset Management Ltd. increased its stake in Ritchie Bros. Auctioneers by 37.1% in the fourth quarter. Burgundy Asset Management Ltd. now owns 6,190,152 shares of the business services provider’s stock valued at $185,271,000 after purchasing an additional 1,674,728 shares during the last quarter. Riverbridge Partners LLC increased its stake in Ritchie Bros. Auctioneers by 44.2% in the fourth quarter. Riverbridge Partners LLC now owns 4,953,033 shares of the business services provider’s stock valued at $148,244,000 after purchasing an additional 1,517,172 shares during the last quarter. Standard Life Aberdeen plc increased its stake in Ritchie Bros. Auctioneers by 8.8% in the fourth quarter. Standard Life Aberdeen plc now owns 2,996,848 shares of the business services provider’s stock valued at $89,711,000 after purchasing an additional 243,637 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in Ritchie Bros. Auctioneers by 12.0% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,438,270 shares of the business services provider’s stock valued at $72,977,000 after purchasing an additional 260,560 shares during the last quarter.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

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

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