Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) PT Set at $40.00 by Royal Bank Of Canada

Royal Bank Of Canada set a $40.00 target price on Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) in a research report report published on Wednesday, August 9th. The firm currently has a buy rating on the business services provider’s stock.

Other analysts also recently issued research reports about the company. TD Securities reissued a sell rating on shares of Ritchie Bros. Auctioneers in a report on Tuesday, April 11th. CIBC reissued an outperform rating and issued a $36.00 price target on shares of Ritchie Bros. Auctioneers in a report on Thursday, April 13th. Jefferies Group LLC reissued a hold rating and issued a $29.00 price target (down previously from $32.00) on shares of Ritchie Bros. Auctioneers in a report on Friday, April 14th. William Blair restated an outperform rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, April 24th. Finally, Scotiabank lowered their target price on Ritchie Bros. Auctioneers from $40.00 to $39.00 and set an outperform rating on the stock in a research report on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Ritchie Bros. Auctioneers has an average rating of Hold and an average target price of $33.42.

Ritchie Bros. Auctioneers (RBA) traded down 0.59% during midday trading on Wednesday, reaching $28.42. The company had a trading volume of 773,311 shares. The firm has a market capitalization of $3.04 billion, a PE ratio of 61.52 and a beta of 0.55. Ritchie Bros. Auctioneers has a 12 month low of $26.68 and a 12 month high of $39.96. The firm’s 50-day moving average price is $28.11 and its 200 day moving average price is $30.65.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The company had revenue of $166.20 million for the quarter, compared to the consensus estimate of $161.85 million. During the same quarter last year, the business posted $0.37 EPS. Ritchie Bros. Auctioneers’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Ritchie Bros. Auctioneers will post $1.02 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 144.68%.

Several institutional investors have recently modified their holdings of RBA. 1st Global Advisors Inc. boosted its position in shares of Ritchie Bros. Auctioneers by 9.5% in the second quarter. 1st Global Advisors Inc. now owns 10,345 shares of the business services provider’s stock valued at $297,000 after buying an additional 895 shares during the period. Grandeur Peak Global Advisors LLC boosted its position in shares of Ritchie Bros. Auctioneers by 22.3% in the second quarter. Grandeur Peak Global Advisors LLC now owns 594,675 shares of the business services provider’s stock valued at $17,091,000 after buying an additional 108,350 shares during the period. Bank of Nova Scotia boosted its position in shares of Ritchie Bros. Auctioneers by 101.6% in the second quarter. Bank of Nova Scotia now owns 30,226 shares of the business services provider’s stock valued at $869,000 after buying an additional 15,236 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Ritchie Bros. Auctioneers by 338.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock valued at $303,000 after buying an additional 6,257 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Ritchie Bros. Auctioneers by 344.7% in the second quarter. The Manufacturers Life Insurance Company now owns 428,931 shares of the business services provider’s stock valued at $12,303,000 after buying an additional 332,484 shares during the period. Institutional investors own 94.17% of the company’s stock.

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.

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