Scotiabank set a $34.00 price target on Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) in a report published on Tuesday morning. The firm currently has an outperform rating on the business services provider’s stock.
A number of other brokerages have also commented on RBA. BidaskClub raised Ritchie Bros. Auctioneers from a sell rating to a hold rating in a report on Tuesday, June 13th. Jefferies Group LLC reissued a hold rating and set a $29.00 target price on shares of Ritchie Bros. Auctioneers in a report on Monday, May 15th. National Bank Financial reduced their target price on Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a sector perform rating on the stock in a report on Wednesday, August 9th. TD Securities reduced their target price on Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a reduce rating on the stock in a report on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $40.00 target price on Ritchie Bros. Auctioneers and gave the stock a buy rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $32.82.
Ritchie Bros. Auctioneers (NYSE RBA) opened at 30.29 on Tuesday. Ritchie Bros. Auctioneers has a one year low of $26.68 and a one year high of $39.96. The firm has a market cap of $3.24 billion, a P/E ratio of 65.56 and a beta of 0.57. The firm’s 50-day moving average price is $28.56 and its 200 day moving average price is $30.32.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The firm had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. During the same period in the prior year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Ritchie Bros. Auctioneers will post $0.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.24%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 144.68%.
In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $28.59 per share, for a total transaction of $28,590.00. Following the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at $28,590. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in RBA. Suntrust Banks Inc. lifted its position in shares of Ritchie Bros. Auctioneers by 2.3% during the 1st quarter. Suntrust Banks Inc. now owns 11,159 shares of the business services provider’s stock worth $367,000 after buying an additional 256 shares during the last quarter. Comerica Bank lifted its position in shares of Ritchie Bros. Auctioneers by 0.7% during the 1st quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock worth $221,000 after buying an additional 44 shares during the last quarter. Swiss National Bank lifted its position in shares of Ritchie Bros. Auctioneers by 0.8% during the 1st quarter. Swiss National Bank now owns 177,900 shares of the business services provider’s stock worth $5,855,000 after buying an additional 1,400 shares during the last quarter. World Asset Management Inc lifted its position in shares of Ritchie Bros. Auctioneers by 0.7% during the 1st quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after buying an additional 43 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Ritchie Bros. Auctioneers during the 1st quarter worth $4,034,000. Institutional investors and hedge funds own 96.14% of the company’s stock.
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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