Comerica Bank Reduces Position in Ritchie Bros. Auctioneers Inc (NYSE:RBA)

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Comerica Bank lessened its holdings in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 5.1% in the 3rd quarter, Holdings Channel reports. The fund owned 10,257 shares of the business services provider’s stock after selling 556 shares during the quarter. Comerica Bank’s holdings in Ritchie Bros. Auctioneers were worth $412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RBA. Quest Capital Management Inc. ADV purchased a new stake in Ritchie Bros. Auctioneers during the 3rd quarter valued at about $39,000. Arcadia Investment Management Corp MI grew its stake in shares of Ritchie Bros. Auctioneers by 233.3% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 3,000 shares of the business services provider’s stock valued at $100,000 after buying an additional 2,100 shares during the period. NEXT Financial Group Inc grew its stake in shares of Ritchie Bros. Auctioneers by 9.4% in the 2nd quarter. NEXT Financial Group Inc now owns 3,557 shares of the business services provider’s stock valued at $118,000 after buying an additional 307 shares during the period. Hengehold Capital Management LLC purchased a new stake in shares of Ritchie Bros. Auctioneers in the 3rd quarter valued at approximately $212,000. Finally, Sciencast Management LP purchased a new stake in shares of Ritchie Bros. Auctioneers in the 2nd quarter valued at approximately $218,000. 91.41% of the stock is owned by institutional investors.

Ritchie Bros. Auctioneers stock opened at $41.80 on Friday. The firm has a 50 day simple moving average of $40.53 and a 200-day simple moving average of $37.16. Ritchie Bros. Auctioneers Inc has a 1-year low of $30.76 and a 1-year high of $42.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 1.15. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 4.79 and a beta of 0.69.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. Ritchie Bros. Auctioneers had a net margin of 9.90% and a return on equity of 15.88%. The firm had revenue of $289.80 million for the quarter, compared to analyst estimates of $289.55 million. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities analysts expect that Ritchie Bros. Auctioneers Inc will post 1.26 earnings per share for the current fiscal year.

In other news, insider Todd Donald Wohler sold 2,428 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $39.80, for a total value of $96,634.40. Following the transaction, the insider now directly owns 9,491 shares in the company, valued at approximately $377,741.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Several analysts have recently weighed in on the stock. Barrington Research reissued a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Friday, November 8th. TD Securities increased their price target on shares of Ritchie Bros. Auctioneers from $30.00 to $31.00 and gave the company a “reduce” rating in a research note on Monday, November 11th. OTR Global raised shares of Ritchie Bros. Auctioneers to a “positive” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price target on shares of Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, National Bank Financial cut shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $35.50 to $35.00 in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.38.

Ritchie Bros. Auctioneers Company Profile

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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Institutional Ownership by Quarter for Ritchie Bros. Auctioneers (NYSE:RBA)

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