RBA has been the subject of a number of other reports. Macquarie started coverage on shares of Ritchie Bros. Auctioneers in a report on Thursday, August 25th. They issued an outperform rating and a $34.00 target price for the company. Jefferies Group increased their target price on shares of Ritchie Bros. Auctioneers from $28.00 to $32.00 and gave the company a hold rating in a report on Wednesday, August 31st. RBC Capital Markets reaffirmed an outperform rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, August 30th. OTR Global reiterated a negative rating on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 22nd. Finally, TD Securities reiterated a reduce rating and issued a $26.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Saturday, August 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Ritchie Bros. Auctioneers has a consensus rating of Hold and a consensus target price of $33.95.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at 35.71 on Monday. Ritchie Bros. Auctioneers has a 52-week low of $21.03 and a 52-week high of $37.23. The stock’s 50 day moving average is $34.04 and its 200 day moving average is $31.87. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 27.96 and a beta of 0.48.
Ritchie Bros. Auctioneers (NYSE:RBA) last issued its earnings results 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 company earned $158.80 million during the quarter, compared to analysts’ expectations of $160.96 million. During the same period last year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts expect that Ritchie Bros. Auctioneers will post $1.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Wednesday, August 31st. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) 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 shares were sold at an average price of $34.00, for a total value of $224,400.00. Following the transaction, the vice president now owns 6,600 shares in the company, valued at approximately $224,400. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.67% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in shares of Ritchie Bros. Auctioneers during the second quarter worth $60,930,000. FMR LLC bought a new position in shares of Ritchie Bros. Auctioneers during the second quarter worth $58,892,000. Eagle Asset Management Inc. raised its position in shares of Ritchie Bros. Auctioneers by 706.8% in the third quarter. Eagle Asset Management Inc. now owns 1,039,945 shares of the company’s stock worth $36,470,000 after buying an additional 911,050 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Ritchie Bros. Auctioneers during the second quarter worth $24,612,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Ritchie Bros. Auctioneers during the first quarter worth $26,028,000. Institutional investors own 86.29% of the company’s stock.
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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