Raymond James reissued their market perform rating on shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) in a research report sent to investors on Monday morning, BayStreet.CA reports. Raymond James currently has a $34.50 price target on the business services provider’s stock.

A number of other research analysts also recently weighed in on the stock. TD Securities cut their price target on shares of Ritchie Bros. Auctioneers from $30.00 to $28.00 and set a reduce rating on the stock in a report on Monday, May 13th. Royal Bank of Canada raised their price target on shares of NVIDIA to $200.00 and gave the company an outperform rating in a report on Monday, May 13th. Zacks Investment Research upgraded shares of General Moly from a sell rating to a hold rating in a report on Thursday, July 11th. ValuEngine downgraded shares of Woodward, Inc.Common Stock from a buy rating to a hold rating in a report on Tuesday, April 9th. Finally, CIBC restated a hold rating and set a $37.00 price target on shares of Ritchie Bros. Auctioneers in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Ritchie Bros. Auctioneers currently has a consensus rating of Hold and a consensus price target of $36.28.

Shares of NYSE:RBA opened at $35.89 on Monday. The firm’s fifty day moving average is $34.34. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 4.29 and a beta of 0.74. Ritchie Bros. Auctioneers has a 12-month low of $30.76 and a 12-month high of $38.77. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.83.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, May 9th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The company had revenue of $303.40 million for the quarter, compared to analyst estimates of $268.69 million. Ritchie Bros. Auctioneers had a net margin of 10.10% and a return on equity of 14.47%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. Sell-side analysts expect that Ritchie Bros. Auctioneers will post 1.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 29th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 28th. This represents a $0.72 annualized dividend and a yield of 2.01%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 66.67%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its holdings in Ritchie Bros. Auctioneers by 16.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,414 shares of the business services provider’s stock worth $252,000 after acquiring an additional 1,067 shares during the period. LPL Financial LLC grew its position in Ritchie Bros. Auctioneers by 27.4% in the 4th quarter. LPL Financial LLC now owns 15,390 shares of the business services provider’s stock worth $504,000 after purchasing an additional 3,308 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in Ritchie Bros. Auctioneers in the 4th quarter worth $15,813,000. Swiss National Bank grew its position in Ritchie Bros. Auctioneers by 2.0% in the 1st quarter. Swiss National Bank now owns 199,300 shares of the business services provider’s stock worth $6,768,000 after purchasing an additional 3,900 shares during the last quarter. Finally, CWM LLC grew its position in Ritchie Bros. Auctioneers by 22.2% in the 1st quarter. CWM LLC now owns 195,558 shares of the business services provider’s stock worth $6,649,000 after purchasing an additional 35,565 shares during the last quarter. Hedge funds and other institutional investors own 90.13% of the company’s stock.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

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Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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