Ritchie Bros. Auctioneers Inc (NYSE:RBA) Given Consensus Rating of “Hold” by Analysts

Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) has earned an average rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $37.11.

A number of research firms have commented on RBA. Robert W. Baird increased their price objective on shares of Ritchie Bros. Auctioneers from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. OTR Global downgraded shares of Ritchie Bros. Auctioneers to a “positive” rating in a research note on Friday, July 26th. Raymond James raised their price target on shares of Ritchie Bros. Auctioneers from $34.50 to $36.50 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday. Finally, National Bank Financial raised their price target on shares of Ritchie Bros. Auctioneers from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th.

Several institutional investors have recently bought and sold shares of the company. Verition Fund Management LLC boosted its holdings in shares of Ritchie Bros. Auctioneers by 26.0% in the second quarter. Verition Fund Management LLC now owns 7,938 shares of the business services provider’s stock worth $264,000 after buying an additional 1,639 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Ritchie Bros. Auctioneers by 94.2% in the second quarter. Cubist Systematic Strategies LLC now owns 40,237 shares of the business services provider’s stock worth $1,337,000 after buying an additional 19,519 shares during the period. Morgan Stanley boosted its holdings in shares of Ritchie Bros. Auctioneers by 11.4% in the second quarter. Morgan Stanley now owns 91,945 shares of the business services provider’s stock worth $3,054,000 after buying an additional 9,397 shares during the period. Paloma Partners Management Co acquired a new position in shares of Ritchie Bros. Auctioneers in the second quarter worth about $274,000. Finally, Man Group plc boosted its holdings in shares of Ritchie Bros. Auctioneers by 38.3% in the second quarter. Man Group plc now owns 114,767 shares of the business services provider’s stock worth $3,813,000 after buying an additional 31,759 shares during the period. Institutional investors own 89.96% of the company’s stock.

Shares of RBA stock traded up $0.51 on Friday, hitting $38.84. The stock had a trading volume of 376,500 shares, compared to its average volume of 469,212. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 35.96, a P/E/G ratio of 4.40 and a beta of 0.74. The stock’s 50 day moving average is $35.34 and its 200-day moving average is $34.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 1.24. Ritchie Bros. Auctioneers has a 52-week low of $30.76 and a 52-week high of $38.97.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. Ritchie Bros. Auctioneers had a net margin of 10.08% and a return on equity of 15.27%. The firm had revenue of $393.20 million for the quarter, compared to the consensus estimate of $352.51 million. During the same period in the prior year, the firm posted $0.42 EPS. The firm’s revenue was up 27.4% compared to the same quarter last year. Equities analysts expect that Ritchie Bros. Auctioneers will post 1.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be given a $0.20 dividend. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Tuesday, August 27th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 66.67%.

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

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