Royal Bank of Canada assumed coverage on shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) in a research report report published on Friday morning, Marketbeat.com reports. The brokerage issued a sector perform rating and a $33.00 price target on the business services provider’s stock.
Other equities analysts have also recently issued research reports about the company. TheStreet raised Ritchie Bros. Auctioneers from a c rating to a b- rating in a research note on Thursday, March 1st. Zacks Investment Research raised Ritchie Bros. Auctioneers from a hold rating to a buy rating and set a $37.00 target price on the stock in a research note on Thursday, March 1st. Barrington Research reaffirmed a hold rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, March 6th. Jefferies Group reaffirmed a hold rating and set a $30.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Thursday, January 18th. Finally, Raymond James Financial lifted their target price on Ritchie Bros. Auctioneers from $26.50 to $31.00 and gave the company a market perform rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Ritchie Bros. Auctioneers has a consensus rating of Hold and a consensus target price of $32.10.
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. Ritchie Bros. Auctioneers has a fifty-two week low of $24.08 and a fifty-two week high of $35.17. The stock has a market cap of $3,400.19, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 3.22 and a beta of 0.69.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Ritchie Bros. Auctioneers had a return on equity of 12.15% and a net margin of 12.29%. The company had revenue of $178.80 million for the quarter, compared to analysts’ expectations of $171.97 million. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. equities analysts forecast that Ritchie Bros. Auctioneers will post 1.04 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zions Bancorporation bought a new stake in shares of Ritchie Bros. Auctioneers in the 3rd quarter valued at approximately $127,000. Comerica Bank bought a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter valued at approximately $217,000. Jane Street Group LLC bought a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter valued at approximately $323,000. LPL Financial LLC lifted its holdings in Ritchie Bros. Auctioneers by 38.3% in the 4th quarter. LPL Financial LLC now owns 10,885 shares of the business services provider’s stock worth $326,000 after purchasing an additional 3,017 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in Ritchie Bros. Auctioneers by 33.8% in the 4th quarter. Stephens Inc. AR now owns 11,001 shares of the business services provider’s stock worth $329,000 after purchasing an additional 2,776 shares during the last quarter.
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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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