Shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) have earned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the firm. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $33.56.
A number of equities analysts recently issued reports on RBA shares. Macquarie started coverage on Ritchie Bros. Auctioneers in a report on Thursday, August 25th. They set an “outperform” rating and a $34.00 price objective for the company. Jefferies Group boosted their price objective on Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the company a “hold” rating in a report on Wednesday, August 31st. OTR Global restated a “negative” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, July 22nd. RBC Capital Markets restated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, August 30th. Finally, TD Securities restated a “reduce” rating and set a $26.00 price objective on shares of Ritchie Bros. Auctioneers in a report on Saturday, August 13th.
Ritchie Bros. Auctioneers (NYSE:RBA) traded up 0.20% during midday trading on Thursday, hitting $34.27. The stock had a trading volume of 180,859 shares. Ritchie Bros. Auctioneers has a 52-week low of $21.03 and a 52-week high of $36.79. The company’s 50 day moving average price is $31.91 and its 200-day moving average price is $31.19. The stock has a market cap of $3.65 billion, a PE ratio of 26.84 and a beta of 0.60.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.07. Ritchie Bros. Auctioneers had a net margin of 25.39% and a return on equity of 16.55%. The business had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $160.96 million. During the same quarter in the previous year, the firm earned $0.43 EPS. Ritchie Bros. Auctioneers’s revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Ritchie Bros. Auctioneers will post $1.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, August 31st. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. Ritchie Bros. Auctioneers’s payout ratio is 53.97%.
In other Ritchie Bros. Auctioneers news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of Ritchie Bros. Auctioneers stock in a transaction 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 completion of the sale, the vice president now directly owns 6,600 shares of the company’s stock, valued at approximately $224,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.67% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBA. Envestnet Asset Management Inc. raised its position in Ritchie Bros. Auctioneers by 5.2% in the first quarter. Envestnet Asset Management Inc. now owns 207,153 shares of the company’s stock valued at $5,610,000 after buying an additional 10,310 shares during the last quarter. AJO LP bought a new position in Ritchie Bros. Auctioneers during the second quarter valued at approximately $479,000. Forward Management LLC raised its position in Ritchie Bros. Auctioneers by 727.5% in the first quarter. Forward Management LLC now owns 192,923 shares of the company’s stock valued at $5,224,000 after buying an additional 169,608 shares during the last quarter. Primecap Management Co. CA raised its position in Ritchie Bros. Auctioneers by 3.1% in the first quarter. Primecap Management Co. CA now owns 7,331,480 shares of the company’s stock valued at $198,536,000 after buying an additional 223,300 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in Ritchie Bros. Auctioneers during the first quarter valued at approximately $875,000. 86.29% of the stock is owned by hedge funds and other 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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