Ritchie Bros. Auctioneers (RBA) Stock Price Up 5.7%

Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA)’s share price rose 5.7% during trading on Friday . The company traded as high as $36.27 and last traded at $35.34. Approximately 1,157,431 shares were traded during trading, an increase of 153% from the average daily volume of 457,431 shares. The stock had previously closed at $33.45.

RBA has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, August 22nd. Macquarie upped their target price on Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Scotiabank set a $39.00 target price on Ritchie Bros. Auctioneers and gave the company a “hold” rating in a report on Monday, August 13th. Finally, Barrington Research restated a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Ritchie Bros. Auctioneers has an average rating of “Hold” and a consensus price target of $36.11.

The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.57 billion, a PE ratio of 43.63, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, November 8th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $159.30 million during the quarter, compared to the consensus estimate of $163.59 million. Ritchie Bros. Auctioneers had a return on equity of 13.42% and a net margin of 12.36%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Equities analysts expect that Ritchie Bros. Auctioneers Inc will post 1.1 earnings per share for the current fiscal year.

In other Ritchie Bros. Auctioneers news, SVP Kieran Colquhoun Holm sold 13,240 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $38.24, for a total value of $506,297.60. Following the completion of the transaction, the senior vice president now owns 11,278 shares in the company, valued at $431,270.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cutler Group LP raised its holdings in Ritchie Bros. Auctioneers by 125.6% in the second quarter. Cutler Group LP now owns 4,688 shares of the business services provider’s stock worth $159,000 after purchasing an additional 22,971 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Ritchie Bros. Auctioneers in the second quarter worth $207,000. Janney Montgomery Scott LLC bought a new position in Ritchie Bros. Auctioneers in the third quarter worth $210,000. We Are One Seven LLC bought a new position in Ritchie Bros. Auctioneers in the third quarter worth $216,000. Finally, Tower Research Capital LLC TRC raised its holdings in Ritchie Bros. Auctioneers by 197.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,036 shares of the business services provider’s stock worth $275,000 after purchasing an additional 5,336 shares in the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.

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Ritchie Bros. Auctioneers Company Profile (NYSE:RBA)

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

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