Ritchie Bros. Auctioneers Inc (RBA) Receives Average Rating of “Hold” from Brokerages

Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) has been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$38.33.

A number of equities analysts recently weighed in on RBA shares. National Bank Financial raised shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$28.00 to C$39.00 in a report on Monday, November 20th. Scotiabank reissued an “outperform” rating and issued a C$42.50 price target on shares of Ritchie Bros. Auctioneers in a report on Friday, October 20th. TD Securities cut their price target on shares of Ritchie Bros. Auctioneers to C$29.00 and set a “reduce” rating on the stock in a report on Tuesday, October 10th. Finally, Raymond James Financial cut their price target on shares of Ritchie Bros. Auctioneers to C$36.00 and set a “market perform” rating on the stock in a report on Tuesday, October 10th.

Shares of Ritchie Bros. Auctioneers (TSE:RBA) opened at C$34.18 on Friday. Ritchie Bros. Auctioneers has a 12 month low of C$30.63 and a 12 month high of C$52.88.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.219 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. This represents a $0.88 annualized dividend and a yield of 2.56%. Ritchie Bros. Auctioneers’s dividend payout ratio is 86.08%.

In other Ritchie Bros. Auctioneers news, insider Sharon Driscoll acquired 1,375 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were acquired at an average cost of C$36.17 per share, with a total value of C$49,733.75.

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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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