Jefferies Group LLC reaffirmed their hold rating on shares of Ritchie Bros Auctioneers Inc (NYSE:RBA) (TSE:RBA) in a research note published on Friday, April 14th. The firm currently has a $29.00 price objective on the business services provider’s stock, down from their prior price objective of $32.00.
Several other equities research analysts have also recently issued reports on RBA. BMO Capital Markets reduced their price objective on shares of Ritchie Bros Auctioneers from $38.00 to $33.00 and set a market perform rating on the stock in a research report on Friday, January 13th. Raymond James Financial, Inc. cut shares of Ritchie Bros Auctioneers from an outperform rating to a mkt perform rating in a research report on Wednesday, December 28th. TD Securities reiterated a sell rating on shares of Ritchie Bros Auctioneers in a research report on Tuesday, April 11th. Bank of America Corp cut shares of Ritchie Bros Auctioneers from a neutral rating to an underperform rating in a research report on Friday, January 13th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $58.00 price objective on shares of Ritchie Bros Auctioneers in a research report on Friday, December 16th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Ritchie Bros Auctioneers currently has an average rating of Hold and an average target price of $35.96.
Shares of Ritchie Bros Auctioneers (NYSE:RBA) traded down 0.98% on Friday, reaching $31.27. 1,231,621 shares of the company’s stock traded hands. Ritchie Bros Auctioneers has a 12-month low of $27.13 and a 12-month high of $39.96. The stock has a 50-day moving average of $31.61 and a 200 day moving average of $33.57. The firm has a market cap of $3.35 billion, a P/E ratio of 45.99 and a beta of 0.62.
Ritchie Bros Auctioneers (NYSE:RBA) last issued its quarterly earnings results on Tuesday, February 21st. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. Ritchie Bros Auctioneers had a net margin of 19.91% and a return on equity of 17.38%. The business had revenue of $146.80 million for the quarter, compared to the consensus estimate of $133.92 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Ritchie Bros Auctioneers will post $1.05 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 23rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, May 19th. Ritchie Bros Auctioneers’s dividend payout ratio is currently 66.67%.
Hedge funds have recently modified their holdings of the stock. 1st Global Advisors Inc. raised its stake in shares of Ritchie Bros Auctioneers by 23.7% in the third quarter. 1st Global Advisors Inc. now owns 11,168 shares of the business services provider’s stock worth $392,000 after buying an additional 2,143 shares in the last quarter. American Capital Management Inc. bought a new stake in shares of Ritchie Bros Auctioneers during the third quarter worth about $6,943,000. CGOV Asset Management bought a new stake in shares of Ritchie Bros Auctioneers during the third quarter worth about $133,822,000. Pembroke Management LTD bought a new stake in shares of Ritchie Bros Auctioneers during the third quarter worth about $3,236,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of Ritchie Bros Auctioneers by 1,879.5% in the third quarter. Great West Life Assurance Co. Can now owns 389,270 shares of the business services provider’s stock worth $13,650,000 after buying an additional 369,605 shares in the last quarter. 89.55% of the stock is owned by hedge funds and other institutional investors.
About Ritchie Bros Auctioneers
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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