TD Securities Cuts Ritchie Bros. Auctioneers Inc (RBA) Price Target to C$29.00

Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) had its price objective lowered by TD Securities to C$29.00 in a research note released on Tuesday, StockTargetPrices.com reports. The firm currently has a reduce rating on the stock.

Other analysts have also issued reports about the company. Raymond James Financial, Inc. lowered their target price on Ritchie Bros. Auctioneers to C$36.00 and set a market perform rating on the stock in a research note on Tuesday. CIBC lowered Ritchie Bros. Auctioneers from an outperform rating to a neutral rating and lowered their target price for the company from C$36.00 to C$28.00 in a research note on Monday, July 10th. Scotiabank restated an outperform rating and issued a C$41.00 target price on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, September 12th. Finally, National Bank Financial restated a sector perform under weight rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of C$37.90.

Shares of Ritchie Bros. Auctioneers (TSE RBA) opened at 35.13 on Tuesday. The company has a 50-day moving average price of $37.12 and a 200-day moving average price of $39.08. Ritchie Bros. Auctioneers has a 1-year low of $34.03 and a 1-year high of $52.88. The company has a market cap of $3.76 billion and a PE ratio of 76.54.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.94%.

In related news, insider Sharon Driscoll acquired 1,375 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average cost of C$36.17 per share, for a total transaction of C$49,733.75.

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.

Stock Target Prices

Analyst Recommendations for Ritchie Bros. Auctioneers (TSE:RBA)

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