Brokerages Set Ritchie Bros. Auctioneers Inc. (NYSE:RBA) Price Target at $33.56
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) has been given an average recommendation of “Hold” by the fifteen research firms that are currently covering the firm. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $33.56.
Several research analysts have recently issued reports on the company. TD Securities reaffirmed a “reduce” rating and set a $26.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Wednesday, August 31st. Royal Bank Of Canada lifted their price target on Ritchie Bros. Auctioneers from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 31st. Jefferies Group lifted their price target on Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Bank of America Corp. raised Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 31st. Finally, Zacks Investment Research raised Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research note on Saturday, September 3rd.
In other Ritchie Bros. Auctioneers news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of Ritchie Bros. Auctioneers stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $34.00, for a total value of $224,400.00. Following the completion of the sale, the vice president now owns 6,600 shares in the company, valued at approximately $224,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. AGF Investments Inc. boosted its stake in shares of Ritchie Bros. Auctioneers by 121.1% in the second quarter. AGF Investments Inc. now owns 2,947 shares of the company’s stock worth $100,000 after buying an additional 1,614 shares during the last quarter. FineMark National Bank & Trust boosted its stake in shares of Ritchie Bros. Auctioneers by 2.4% in the second quarter. FineMark National Bank & Trust now owns 4,158 shares of the company’s stock worth $141,000 after buying an additional 97 shares during the last quarter. Barclays PLC purchased a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth about $177,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth about $202,000. Finally, Advisor Group Inc. purchased a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth about $212,000. Institutional investors and hedge funds own 86.29% of the company’s stock.
Ritchie Bros. Auctioneers (NYSE:RBA) opened at 35.07 on Thursday. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 27.46 and a beta of 0.60. Ritchie Bros. Auctioneers has a 52 week low of $21.03 and a 52 week high of $36.79. The firm’s 50-day moving average is $32.26 and its 200 day moving average is $31.28.
Ritchie Bros. Auctioneers (NYSE:RBA) last released its earnings results on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.07. Ritchie Bros. Auctioneers had a net margin of 25.39% and a return on equity of 16.55%. The business earned $158.80 million during the quarter, compared to analyst estimates of $160.96 million. During the same period last year, the business posted $0.43 EPS. Ritchie Bros. Auctioneers’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Ritchie Bros. Auctioneers will post $1.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were issued a $0.17 dividend. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.68 annualized dividend and a yield of 1.94%. Ritchie Bros. Auctioneers’s payout ratio is 53.97%.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers Incorporated is a holding company. The Company is an auctioneer of industrial equipment. The Company is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.
Receive News & Stock Ratings for Ritchie Bros. Auctioneers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers Inc. and related stocks with our FREE daily email newsletter.