Shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) have received a consensus recommendation of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $30.30.
RBA has been the subject of several recent analyst reports. Raymond James Financial reduced their target price on Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a “market perform” rating for the company in a research report on Tuesday, October 10th. TD Securities reduced their target price on Ritchie Bros. Auctioneers from $25.00 to $23.00 and set a “reduce” rating for the company in a research report on Tuesday, October 10th. Jefferies Group restated a “hold” rating and set a $26.00 target price (down from $29.00) on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, October 10th. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Scotiabank set a $34.00 target price on Ritchie Bros. Auctioneers and gave the stock an “outperform” rating in a research report on Friday, October 20th.
In other Ritchie Bros. Auctioneers news, insider Karl William Werner sold 5,400 shares of Ritchie Bros. Auctioneers stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $28.68, for a total transaction of $154,872.00. Following the completion of the sale, the insider now owns 5,400 shares of the company’s stock, valued at $154,872. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.39% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. CGOV Asset Management lifted its stake in Ritchie Bros. Auctioneers by 11.2% during the fourth quarter. CGOV Asset Management now owns 5,007,325 shares of the business services provider’s stock worth $188,435,000 after purchasing an additional 504,959 shares during the last quarter. Atlantic Trust Group LLC bought a new stake in Ritchie Bros. Auctioneers during the third quarter worth about $3,621,000. Zions Bancorporation bought a new stake in Ritchie Bros. Auctioneers during the third quarter worth about $127,000. Grandeur Peak Global Advisors LLC lifted its stake in Ritchie Bros. Auctioneers by 10.5% during the third quarter. Grandeur Peak Global Advisors LLC now owns 657,275 shares of the business services provider’s stock worth $20,783,000 after purchasing an additional 62,600 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Ritchie Bros. Auctioneers by 3.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 120,328 shares of the business services provider’s stock worth $3,805,000 after purchasing an additional 3,727 shares during the last quarter. 96.61% of the stock is owned by hedge funds and other institutional investors.
Shares of Ritchie Bros. Auctioneers (NYSE:RBA) traded up $0.40 during midday trading on Friday, hitting $31.84. The stock had a trading volume of 500,600 shares, compared to its average volume of 594,250. Ritchie Bros. Auctioneers has a one year low of $24.08 and a one year high of $35.21. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20. The stock has a market capitalization of $3,370.00, a PE ratio of 52.20, a PEG ratio of 3.40 and a beta of 0.63.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, November 9th. The business services provider reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). Ritchie Bros. Auctioneers had a return on equity of 5.77% and a net margin of 7.32%. The business had revenue of $141.05 million for the quarter, compared to analysts’ expectations of $139.96 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Ritchie Bros. Auctioneers’s quarterly revenue was up 9.4% compared to the same quarter last year. analysts predict that Ritchie Bros. Auctioneers will post 0.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Tuesday, November 28th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is currently 111.48%.
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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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