Ritchie Bros. Auctioneers Inc. (RBA) Given Hold Rating at Bank of America Corp.
Bank of America Corp. restated their hold rating on shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) in a research report report published on Monday morning. Bank of America Corp. currently has a $37.50 price objective on the stock.
Several other research firms have also recently commented on RBA. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a hold rating to a sell rating in a report on Thursday, July 21st. Royal Bank Of Canada lifted their price objective on shares of Ritchie Bros. Auctioneers from $32.00 to $40.00 and gave the company an outperform rating in a research note on Wednesday, August 31st. Jefferies Group lowered shares of Ritchie Bros. Auctioneers from a buy rating to a hold rating and set a $35.00 price objective for the company. in a research note on Friday, July 15th. They noted that the move was a valuation call. RBC Capital Markets reaffirmed an outperform rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, August 30th. Finally, OTR Global reaffirmed a negative rating on shares of Ritchie Bros. Auctioneers in a research note on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $33.95.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded down 1.212% on Monday, hitting $35.445. The company had a trading volume of 38,903 shares. Ritchie Bros. Auctioneers has a 12-month low of $21.03 and a 12-month high of $37.23. The company has a 50 day moving average of $33.58 and a 200-day moving average of $31.82. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 27.756 and a beta of 0.48.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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 company had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $160.96 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Ritchie Bros. Auctioneers will post $1.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, August 31st. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 53.97%.
In other news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $34.00, for a total transaction of $224,400.00. Following the transaction, the vice president now directly owns 6,600 shares in the company, valued at $224,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.67% of the company’s stock.
Several institutional investors have recently made changes to their positions in RBA. First Mercantile Trust Co. bought a new position in shares of Ritchie Bros. Auctioneers during the third quarter worth about $274,000. Tobam raised its position in shares of Ritchie Bros. Auctioneers by 59.8% in the second quarter. Tobam now owns 148,900 shares of the company’s stock worth $5,006,000 after buying an additional 55,700 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Ritchie Bros. Auctioneers by 171.9% in the second quarter. Hillsdale Investment Management Inc. now owns 11,690 shares of the company’s stock worth $395,000 after buying an additional 7,390 shares during the last quarter. Numeric Investors LLC bought a new position in shares of Ritchie Bros. Auctioneers during the second quarter worth about $625,000. Finally, Paloma Partners Management Co bought a new position in shares of Ritchie Bros. Auctioneers during the second quarter worth about $565,000. Institutional investors own 86.29% of the company’s stock.
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.
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