Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) had its price target decreased by Raymond James Financial, Inc. from $29.50 to $29.00 in a research report released on Tuesday. Raymond James Financial, Inc. currently has a market perform rating on the business services provider’s stock.
Other analysts have also issued research reports about the company. National Bank Financial reaffirmed a sector perform under weight rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, June 29th. TD Securities cut their price objective on Ritchie Bros. Auctioneers from $28.00 to $27.00 and set a reduce rating on the stock in a research report on Monday, July 10th. Scotiabank upped their price objective on Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the stock an outperform rating in a research report on Wednesday, August 9th. BidaskClub raised Ritchie Bros. Auctioneers from a sell rating to a hold rating in a research report on Tuesday, June 13th. Finally, Robert W. Baird reaffirmed a buy rating and set a $33.00 price objective on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $30.67.
Ritchie Bros. Auctioneers (RBA) traded down 0.32% on Tuesday, reaching $28.08. The company’s stock had a trading volume of 199,133 shares. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 61.18 and a beta of 0.57. The company has a 50 day moving average of $29.96 and a 200 day moving average of $30.05. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The business had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, analysts forecast that Ritchie Bros. Auctioneers will post $0.84 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.41%. The ex-dividend date was Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 144.68%.
In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll bought 1,375 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of $29.77 per share, with a total value of $40,933.75. Following the completion of the acquisition, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $29,770. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Morgan Stanley increased its holdings in Ritchie Bros. Auctioneers by 1.7% in the first quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock valued at $14,841,000 after buying an additional 7,478 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Ritchie Bros. Auctioneers by 338.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 6,257 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Ritchie Bros. Auctioneers by 3.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 116,601 shares of the business services provider’s stock valued at $3,351,000 after acquiring an additional 3,601 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new position in Ritchie Bros. Auctioneers in the second quarter valued at $3,937,000. Finally, Nicholas Company Inc. boosted its stake in Ritchie Bros. Auctioneers by 332.7% in the second quarter. Nicholas Company Inc. now owns 154,595 shares of the business services provider’s stock valued at $4,443,000 after acquiring an additional 118,865 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.
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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