Ritchie Bros. Auctioneers (RBA) Rating Reiterated by CIBC

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CIBC reiterated their hold rating on shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) in a report published on Wednesday, AnalystRatings.com reports. CIBC currently has a $37.00 price target on the business services provider’s stock.

Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Ritchie Bros. Auctioneers from a buy rating to a hold rating in a report on Tuesday, April 9th. Barrington Research restated a hold rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, March 7th. Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers from a buy rating to a hold rating in a report on Wednesday, March 6th. Raymond James restated a market perform rating and set a $34.50 target price on shares of Ritchie Bros. Auctioneers in a report on Monday. Finally, OTR Global upgraded shares of Ritchie Bros. Auctioneers to a positive rating in a report on Monday, February 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $36.28.

Shares of RBA traded up $0.42 during mid-day trading on Wednesday, reaching $33.39. The company had a trading volume of 3,488 shares, compared to its average volume of 361,139. The firm has a market cap of $3.53 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.95 and a beta of 0.79. Ritchie Bros. Auctioneers has a fifty-two week low of $30.76 and a fifty-two week high of $38.77. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.83.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, May 9th. The business services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). The business had revenue of $303.40 million for the quarter, compared to analyst estimates of $268.69 million. Ritchie Bros. Auctioneers had a net margin of 10.10% and a return on equity of 14.47%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. As a group, equities research analysts anticipate that Ritchie Bros. Auctioneers will post 1.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 29th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, May 28th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 66.67%.

Institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC purchased a new stake in Ritchie Bros. Auctioneers during the 1st quarter worth $34,000. Beutel Goodman & Co Ltd. purchased a new stake in Ritchie Bros. Auctioneers during the 1st quarter worth $41,000. Brand Asset Management Group Inc. purchased a new stake in Ritchie Bros. Auctioneers during the 1st quarter worth $54,000. Bremer Bank National Association purchased a new stake in Ritchie Bros. Auctioneers during the 1st quarter worth $61,000. Finally, Icon Wealth Partners LLC purchased a new stake in Ritchie Bros. Auctioneers during the 1st quarter worth $66,000. 91.25% of the stock is currently owned by hedge funds and other institutional investors.

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

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