Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA)‘s stock had its “hold” rating reaffirmed by equities researchers at CIBC in a research report issued to clients and investors on Wednesday, AnalystRatings.com reports. They currently have a $37.00 price target on the business services provider’s stock. CIBC’s target price suggests a potential upside of 12.22% from the company’s current price.
RBA has been the topic of several other reports. Bank of America set a $35.00 target price on Ritchie Bros. Auctioneers and gave the company a “sell” rating in a research report on Friday, March 1st. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Royal Bank of Canada cut their target price on Ritchie Bros. Auctioneers from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. National Bank Financial cut their target price on Ritchie Bros. Auctioneers from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Monday. Finally, Raymond James reissued a “market perform” rating and issued a $34.50 target price on shares of Ritchie Bros. Auctioneers in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Ritchie Bros. Auctioneers currently has a consensus rating of “Hold” and a consensus price target of $36.28.
Shares of RBA stock traded down $0.26 during trading hours on Wednesday, reaching $32.97. 246,356 shares of the company’s stock were exchanged, compared to its average volume of 361,139. The company has a market cap of $3.53 billion, a PE ratio of 30.53, a PEG ratio of 1.95 and a beta of 0.79. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. Ritchie Bros. Auctioneers has a fifty-two week low of $30.76 and a fifty-two week high of $38.77.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The business had revenue of $303.40 million for the quarter, compared to analyst estimates of $268.69 million. Ritchie Bros. Auctioneers had a return on equity of 14.47% and a net margin of 10.10%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. On average, equities analysts forecast that Ritchie Bros. Auctioneers will post 1.28 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shell Asset Management Co. grew its position in Ritchie Bros. Auctioneers by 3.5% during the 1st quarter. Shell Asset Management Co. now owns 8,890 shares of the business services provider’s stock worth $302,000 after purchasing an additional 300 shares during the period. Brand Asset Management Group Inc. acquired a new stake in Ritchie Bros. Auctioneers during the 1st quarter worth about $54,000. Armstrong Henry H Associates Inc. grew its position in Ritchie Bros. Auctioneers by 7.2% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 6,685 shares of the business services provider’s stock worth $219,000 after purchasing an additional 450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ritchie Bros. Auctioneers by 8.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,898 shares of the business services provider’s stock worth $226,000 after purchasing an additional 518 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Ritchie Bros. Auctioneers by 9.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,347 shares of the business services provider’s stock worth $208,000 after purchasing an additional 529 shares during the period. 91.25% of the stock is currently owned by hedge funds and other institutional investors.
About Ritchie Bros. Auctioneers
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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