Ritchie Bros. Auctioneers Inc. (RBA) Stock Rating Reaffirmed by Jefferies Group
Ritchie Bros. Auctioneers Inc. (NYSE:RBA)‘s stock had its “hold” rating reiterated by analysts at Jefferies Group in a report released on Thursday. They currently have a $32.00 target price on the stock. Jefferies Group’s price target suggests a potential downside of 14.02% from the stock’s current price.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, October 19th. Bank of America Corp. reaffirmed a “hold” rating and issued a $37.50 price objective on shares of Ritchie Bros. Auctioneers in a research note on Monday, October 10th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $38.00 price objective (up from $29.00) on shares of Ritchie Bros. Auctioneers in a research note on Thursday, September 1st. OTR Global reaffirmed a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Friday, July 22nd. Finally, Royal Bank Of Canada lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $36.54.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at 37.22 on Thursday. The firm has a market cap of $3.97 billion, a P/E ratio of 35.79 and a beta of 0.62. The stock has a 50 day moving average of $35.10 and a 200 day moving average of $32.99. Ritchie Bros. Auctioneers has a 52 week low of $21.03 and a 52 week high of $37.74.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. The company earned $128.90 million during the quarter, compared to analyst estimates of $121.06 million. Ritchie Bros. Auctioneers had a return on equity of 17.40% and a net margin of 19.91%. Ritchie Bros. Auctioneers’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. Analysts anticipate that Ritchie Bros. Auctioneers will post $1.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, November 28th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $0.68 annualized dividend and a dividend yield of 1.83%. Ritchie Bros. Auctioneers’s payout ratio is 66.67%.
In related news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $34.00, for a total transaction of $224,400.00. Following the transaction, the vice president now owns 6,600 shares of the company’s stock, valued at $224,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.67% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Capital Management LLC boosted its position in shares of Ritchie Bros. Auctioneers by 4.5% in the second quarter. Janus Capital Management LLC now owns 5,867,441 shares of the company’s stock valued at $198,202,000 after buying an additional 251,789 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Ritchie Bros. Auctioneers during the third quarter valued at $122,557,000. CGOV Asset Management acquired a new position in Ritchie Bros. Auctioneers during the third quarter valued at $133,822,000. Neuberger Berman Group LLC boosted its position in Ritchie Bros. Auctioneers by 32.4% in the third quarter. Neuberger Berman Group LLC now owns 2,611,619 shares of the company’s stock valued at $91,589,000 after buying an additional 638,517 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its position in Ritchie Bros. Auctioneers by 3.3% in the third quarter. GW&K Investment Management LLC now owns 2,006,945 shares of the company’s stock valued at $70,384,000 after buying an additional 64,971 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors.
About Ritchie Bros. Auctioneers
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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