Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) had its target price increased by research analysts at National Bank Financial from $30.50 to $35.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “outperform” rating on the business services provider’s stock. National Bank Financial’s price objective would indicate a potential upside of 10.48% from the stock’s previous close.
Several other research firms have also recently issued reports on RBA. Scotiabank set a $34.00 target price on shares of Ritchie Bros. Auctioneers and gave the company an “outperform” rating in a research note on Tuesday, September 12th. Robert W. Baird restated a “buy” rating and set a $33.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, September 12th. Jefferies Group restated a “hold” rating and set a $26.00 target price (down previously from $29.00) on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, October 10th. Bank of America lowered their target price on shares of Ritchie Bros. Auctioneers from $22.50 to $21.50 and set an “underperform” rating on the stock in a research note on Thursday, November 16th. Finally, Raymond James Financial lowered their target price on shares of Ritchie Bros. Auctioneers from $29.00 to $26.50 and set a “market perform” rating on the stock in a research note on Monday, November 13th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Ritchie Bros. Auctioneers presently has a consensus rating of “Hold” and an average target price of $30.30.
Shares of Ritchie Bros. Auctioneers (RBA) traded up $0.74 during mid-day trading on Wednesday, reaching $31.68. 356,199 shares of the company traded hands, compared to its average volume of 678,003. Ritchie Bros. Auctioneers has a one year low of $24.08 and a one year high of $35.21. The stock has a market cap of $3,400.00, a P/E ratio of 51.93, a price-to-earnings-growth ratio of 3.40 and a beta of 0.63. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.11.
In other news, insider Karl William Werner sold 5,400 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $28.68, for a total value of $154,872.00. Following the transaction, the insider now owns 5,400 shares in the company, valued at approximately $154,872. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Baillie Gifford & Co. lifted its stake in shares of Ritchie Bros. Auctioneers by 4.4% in the 4th quarter. Baillie Gifford & Co. now owns 12,379,442 shares of the business services provider’s stock worth $298,224,000 after purchasing an additional 519,516 shares during the period. Primecap Management Co. CA lifted its stake in shares of Ritchie Bros. Auctioneers by 3.1% in the 1st quarter. Primecap Management Co. CA now owns 7,331,480 shares of the business services provider’s stock worth $198,536,000 after purchasing an additional 223,300 shares during the period. CGOV Asset Management raised its stake in Ritchie Bros. Auctioneers by 150.2% during the 1st quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock worth $304,466,000 after acquiring an additional 4,175,593 shares during the period. RS Investment Management Co. LLC raised its stake in Ritchie Bros. Auctioneers by 20.5% during the 4th quarter. RS Investment Management Co. LLC now owns 6,309,045 shares of the business services provider’s stock worth $152,111,000 after acquiring an additional 1,073,720 shares during the period. Finally, Janus Capital Management LLC raised its stake in Ritchie Bros. Auctioneers by 3.2% during the 4th quarter. Janus Capital Management LLC now owns 6,196,001 shares of the business services provider’s stock worth $210,664,000 after acquiring an additional 191,369 shares during the period. Hedge funds and other institutional investors own 96.61% of the company’s stock.
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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.
