Fred Alger Management Inc. Purchases Shares of 14,612 Ritchie Bros. Auctioneers Inc (RBA)

Fred Alger Management Inc. purchased a new position in Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 14,612 shares of the business services provider’s stock, valued at approximately $437,000.

Several other large investors also recently bought and sold shares of the company. Zions Bancorporation bought a new position in Ritchie Bros. Auctioneers during the third quarter worth about $127,000. Comerica Bank bought a new position in Ritchie Bros. Auctioneers during the fourth quarter worth about $217,000. ETRADE Capital Management LLC bought a new position in Ritchie Bros. Auctioneers during the third quarter worth about $218,000. Dynamic Technology Lab Private Ltd bought a new position in Ritchie Bros. Auctioneers during the third quarter worth about $287,000. Finally, Stephens Inc. AR lifted its holdings in Ritchie Bros. Auctioneers by 33.8% during the fourth quarter. Stephens Inc. AR now owns 11,001 shares of the business services provider’s stock worth $329,000 after acquiring an additional 2,776 shares in the last quarter.

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NYSE:RBA opened at $31.64 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.21 and a current ratio of 1.31. The stock has a market capitalization of $3,467.90, a P/E ratio of 39.06, a P/E/G ratio of 3.28 and a beta of 0.69. Ritchie Bros. Auctioneers Inc has a 52-week low of $24.08 and a 52-week high of $35.17.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Monday, February 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $178.80 million for the quarter, compared to the consensus estimate of $171.97 million. Ritchie Bros. Auctioneers had a return on equity of 12.15% and a net margin of 12.29%. Ritchie Bros. Auctioneers’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. analysts anticipate that Ritchie Bros. Auctioneers Inc will post 1.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 16th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Thursday, February 15th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 83.95%.

RBA has been the topic of several recent analyst reports. National Bank Financial lifted their target price on Ritchie Bros. Auctioneers from $30.50 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, January 10th. TD Securities lifted their price target on Ritchie Bros. Auctioneers from $22.00 to $25.00 and gave the company a “reduce” rating in a research note on Wednesday, January 10th. Scotiabank lifted their price target on Ritchie Bros. Auctioneers from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, January 10th. Jefferies Group reissued a “hold” rating and issued a $30.00 price target on shares of Ritchie Bros. Auctioneers in a research note on Thursday, January 18th. Finally, Bank of America lifted their price target on Ritchie Bros. Auctioneers from $21.50 to $30.00 and gave the company an “underperform” rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Ritchie Bros. Auctioneers currently has a consensus rating of “Hold” and a consensus target price of $32.10.

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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.

Institutional Ownership by Quarter for Ritchie Bros. Auctioneers (NYSE:RBA)

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