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.
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.
TRADEMARK VIOLATION NOTICE: “Fred Alger Management Inc. Purchases Shares of 14,612 Ritchie Bros. Auctioneers Inc (RBA)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another site, it was copied illegally and reposted in violation of US & international copyright law. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/07/fred-alger-management-inc-invests-437000-in-ritchie-bros-auctioneers-inc-rba-stock.html.
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.
Receive News & Ratings for Ritchie Bros. Auctioneers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers and related companies with MarketBeat.com's FREE daily email newsletter.