Cwm LLC boosted its holdings in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 41.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 131,175 shares of the business services provider’s stock after purchasing an additional 38,114 shares during the period. Cwm LLC owned approximately 0.12% of Ritchie Bros. Auctioneers worth $4,739,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Cutler Group LP grew its position in Ritchie Bros. Auctioneers by 125.6% during the 2nd quarter. Cutler Group LP now owns 4,688 shares of the business services provider’s stock worth $159,000 after purchasing an additional 22,971 shares during the last quarter. We Are One Seven LLC purchased a new position in Ritchie Bros. Auctioneers during the 3rd quarter worth $216,000. Oppenheimer & Co. Inc. purchased a new position in Ritchie Bros. Auctioneers during the 2nd quarter worth $207,000. Tower Research Capital LLC TRC grew its position in Ritchie Bros. Auctioneers by 197.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,036 shares of the business services provider’s stock worth $275,000 after purchasing an additional 5,336 shares during the last quarter. Finally, Guggenheim Capital LLC purchased a new position in Ritchie Bros. Auctioneers during the 1st quarter worth $287,000. 93.83% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on the stock. Macquarie raised their price objective on shares of Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. TD Securities raised their price objective on shares of Ritchie Bros. Auctioneers from $26.00 to $28.00 and gave the stock a “reduce” rating in a research report on Monday, August 13th. Raymond James lifted their target price on shares of Ritchie Bros. Auctioneers from $34.00 to $38.00 and gave the company a “market perform” rating in a report on Monday, August 13th. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Friday, September 28th. Finally, National Bank Financial lifted their target price on shares of Ritchie Bros. Auctioneers from $35.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $36.11.
In other news, SVP Kieran Colquhoun Holm sold 13,240 shares of Ritchie Bros. Auctioneers stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $38.24, for a total value of $506,297.60. Following the sale, the senior vice president now owns 11,278 shares of the company’s stock, valued at $431,270.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.
Shares of NYSE:RBA opened at $33.61 on Thursday. The stock has a market capitalization of $3.44 billion, a PE ratio of 41.49, a PEG ratio of 2.25 and a beta of 0.69. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. Ritchie Bros. Auctioneers Inc has a fifty-two week low of $24.08 and a fifty-two week high of $38.77.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, August 9th. The business services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The business had revenue of $206.80 million for the quarter, compared to the consensus estimate of $225.52 million. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, equities analysts predict that Ritchie Bros. Auctioneers Inc will post 1.1 earnings per share for the current fiscal year.
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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