Scotiabank Analysts Give Ritchie Bros. Auctioneers Incorporated (RBA) a $34.00 Price Target
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) received a $34.00 price objective from research analysts at Scotiabank in a research note issued on Tuesday. The brokerage currently has an “outperform” rating on the business services provider’s stock. Scotiabank’s target price points to a potential upside of 11.95% from the company’s current price.
RBA has been the subject of a number of other reports. BidaskClub downgraded Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada set a $40.00 target price on Ritchie Bros. Auctioneers and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC reissued a “hold” rating and set a $29.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Friday, July 14th. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, CIBC downgraded Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating and set a $28.00 target price for the company. in a research note on Monday, July 10th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Ritchie Bros. Auctioneers currently has an average rating of “Hold” and an average price target of $32.80.
Shares of Ritchie Bros. Auctioneers (RBA) traded down 0.36% on Tuesday, reaching $30.26. The company had a trading volume of 351,488 shares. The firm has a market capitalization of $3.24 billion, a P/E ratio of 65.50 and a beta of 0.57. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96. The company’s 50-day moving average price is $28.51 and its 200 day moving average price is $30.32.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, analysts expect that Ritchie Bros. Auctioneers will post $0.82 EPS for the current year.
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In related news, CFO Sharon Ruth Driscoll bought 1,000 shares of the stock in a transaction on Friday, August 25th. The shares were purchased at an average price of $28.59 per share, for a total transaction of $28,590.00. Following the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at $28,590. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Janus Henderson Group PLC acquired a new stake in Ritchie Bros. Auctioneers during the 2nd quarter valued at $175,728,000. Riverbridge Partners LLC grew its holdings in Ritchie Bros. Auctioneers by 18.4% during the 2nd quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock valued at $104,618,000 after buying an additional 565,290 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Ritchie Bros. Auctioneers by 57.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock valued at $115,116,000 after buying an additional 1,271,836 shares during the last quarter. CGOV Asset Management grew its holdings in Ritchie Bros. Auctioneers by 18.6% during the 1st quarter. CGOV Asset Management now owns 3,298,901 shares of the business services provider’s stock valued at $144,392,000 after buying an additional 518,440 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in Ritchie Bros. Auctioneers by 87.9% during the 1st quarter. Champlain Investment Partners LLC now owns 2,868,155 shares of the business services provider’s stock valued at $94,362,000 after buying an additional 1,341,355 shares during the last quarter. Hedge funds and other institutional investors own 96.14% of the company’s stock.
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.
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