Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) (TSE:RBA) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative auction methods, attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world. “

Several other research firms also recently commented on RBA. RBC Capital Markets reaffirmed an outperform rating and issued a $59.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Friday, November 11th. BMO Capital Markets reaffirmed a hold rating and issued a $38.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Friday, November 11th. Bank of America Corp. raised shares of Ritchie Bros. Auctioneers from an underperform rating to a neutral rating in a research note on Wednesday, August 31st. Jefferies Group reaffirmed a hold rating and issued a $32.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Thursday, November 10th. Finally, Royal Bank Of Canada raised their price target on shares of 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 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 stock presently has an average rating of Hold and a consensus price target of $36.54.

Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.99% on Wednesday, hitting $36.86. 73,022 shares of the stock traded hands. The stock has a market cap of $3.93 billion, a P/E ratio of 28.86 and a beta of 0.62. Ritchie Bros. Auctioneers has a 52-week low of $21.03 and a 52-week high of $37.74. The stock’s 50 day moving average price is $35.33 and its 200 day moving average price is $33.20.

Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company earned $128.90 million during the quarter, compared to analysts’ expectations of $121.06 million. Ritchie Bros. Auctioneers had a return on equity of 17.40% and a net margin of 19.91%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. On average, equities analysts expect that Ritchie Bros. Auctioneers will post $1.17 EPS 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 paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Wednesday, November 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 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 shares were 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 directly 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 the SEC website. 0.67% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Commerce Bank boosted its stake in shares of Ritchie Bros. Auctioneers by 0.5% in the second quarter. Commerce Bank now owns 20,131 shares of the company’s stock valued at $680,000 after buying an additional 95 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 valued at $141,000 after buying an additional 97 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Ritchie Bros. Auctioneers by 0.6% in the third quarter. PNC Financial Services Group Inc. now owns 24,665 shares of the company’s stock valued at $864,000 after buying an additional 148 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Ritchie Bros. Auctioneers by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 18,427 shares of the company’s stock valued at $621,000 after buying an additional 227 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Ritchie Bros. Auctioneers by 0.4% in the third quarter. Aperio Group LLC now owns 134,185 shares of the company’s stock valued at $4,706,000 after buying an additional 502 shares during the last quarter. Institutional investors and hedge funds own 93.17% 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.

5 Day Chart for NYSE:RBA

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