Jefferies Group LLC reaffirmed their hold rating on shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) in a research report report published on Tuesday. Jefferies Group LLC currently has a $26.00 price objective on the business services provider’s stock, down from their previous price objective of $29.00.
A number of other research analysts have also recently commented on the stock. TD Securities dropped their target price on shares of Ritchie Bros. Auctioneers from $25.00 to $23.00 and set a reduce rating for the company in a report on Tuesday. Raymond James Financial, Inc. dropped their target price on shares of Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a market perform rating for the company in a report on Tuesday. Robert W. Baird reissued a buy rating and issued a $33.00 target price on shares of Ritchie Bros. Auctioneers in a report on Tuesday, September 12th. Scotiabank set a $34.00 price objective on Ritchie Bros. Auctioneers and gave the company an outperform rating in a research note on Tuesday, September 12th. Finally, Zacks Investment Research raised Ritchie Bros. Auctioneers from a sell rating to a hold rating in a research note on Saturday, August 12th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Ritchie Bros. Auctioneers has an average rating of Hold and an average price target of $30.67.
Shares of Ritchie Bros. Auctioneers (RBA) traded down 0.32% during midday trading on Tuesday, hitting $28.08. 199,133 shares of the company were exchanged. The company has a market capitalization of $3.01 billion, a P/E ratio of 61.18 and a beta of 0.57. The company has a 50-day moving average of $29.96 and a 200 day moving average of $30.05. Ritchie Bros. Auctioneers has a one year low of $26.68 and a one year high of $39.96.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted 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. The firm had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, equities research analysts expect that Ritchie Bros. Auctioneers will post $0.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 144.68%.
In other news, CFO Sharon Ruth Driscoll bought 1,375 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was acquired at an average price of $29.77 per share, with a total value of $40,933.75. Following the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $29,770. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.39% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Lloyds Banking Group plc increased its position in Ritchie Bros. Auctioneers by 59.1% during the 2nd quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 1,656 shares during the period. FNY Managed Accounts LLC acquired a new stake in Ritchie Bros. Auctioneers during the 1st quarter valued at approximately $176,000. First Bank & Trust increased its position in Ritchie Bros. Auctioneers by 3.8% during the 2nd quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 196 shares during the period. Forward Management LLC increased its position in Ritchie Bros. Auctioneers by 11.0% during the 2nd quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 609 shares during the period. Finally, Comerica Bank increased its position in Ritchie Bros. Auctioneers by 0.7% during the 1st quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 44 shares during the period. 96.01% of the stock is owned by institutional investors and hedge funds.
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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