National Bank Financial downgraded shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) from a sector perform rating to an underperform rating in a report published on Friday, The Fly reports.
Other analysts have also issued research reports about the company. ValuEngine lowered Ritchie Bros. Auctioneers from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Raymond James reiterated a market perform rating and issued a $36.50 price objective on shares of Ritchie Bros. Auctioneers in a report on Monday, October 21st. Royal Bank of Canada increased their price objective on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a hold rating in a report on Monday, August 12th. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a buy rating to a hold rating in a report on Tuesday, October 15th. Finally, Barrington Research reiterated a hold rating on shares of Ritchie Bros. Auctioneers in a report on Friday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $36.25.
RBA stock traded down $0.38 on Friday, reaching $41.28. The company’s stock had a trading volume of 1,072,627 shares, compared to its average volume of 346,689. The business has a fifty day simple moving average of $39.84 and a two-hundred day simple moving average of $36.72. Ritchie Bros. Auctioneers has a 12-month low of $30.76 and a 12-month high of $42.97. The firm has a market cap of $4.39 billion, a PE ratio of 38.22, a PEG ratio of 4.67 and a beta of 0.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.24.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 15.27% and a net margin of 10.08%. The company had revenue of $289.80 million during the quarter, compared to analyst estimates of $289.55 million. During the same quarter last year, the firm posted $0.18 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. As a group, research analysts anticipate that Ritchie Bros. Auctioneers will post 1.27 earnings per share for the current fiscal year.
In other news, insider Darren Jeffrey Watt sold 2,279 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $39.33, for a total transaction of $89,633.07. Following the completion of the transaction, the insider now directly owns 5,626 shares in the company, valued at $221,270.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd Donald Wohler sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $39.80, for a total value of $79,600.00. Following the transaction, the insider now owns 11,919 shares of the company’s stock, valued at $474,376.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,709 shares of company stock valued at $344,944. 1.60% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Ritchie Bros. Auctioneers by 15.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,375,826 shares of the business services provider’s stock valued at $453,895,000 after buying an additional 1,543,300 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Ritchie Bros. Auctioneers by 101.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,840 shares of the business services provider’s stock worth $153,000 after purchasing an additional 1,934 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in Ritchie Bros. Auctioneers by 13.8% in the 3rd quarter. GW&K Investment Management LLC now owns 2,043,635 shares of the business services provider’s stock worth $81,541,000 after purchasing an additional 248,524 shares in the last quarter. Carillon Tower Advisers Inc. lifted its holdings in Ritchie Bros. Auctioneers by 2.5% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 2,685,399 shares of the business services provider’s stock worth $107,148,000 after purchasing an additional 64,511 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in Ritchie Bros. Auctioneers by 1.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,697,097 shares of the business services provider’s stock worth $147,510,000 after purchasing an additional 53,644 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site 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, as well as construction and heavy machinery.
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