Shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $37.11.
Several analysts have recently weighed in on RBA shares. Robert W. Baird raised their price objective on shares of Ritchie Bros. Auctioneers from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. OTR Global lowered shares of Ritchie Bros. Auctioneers to a “positive” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their target price on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Raymond James raised their price target on Ritchie Bros. Auctioneers from $34.50 to $36.50 and gave the company a “market perform” rating in a research report on Monday, August 12th. Finally, Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, August 15th.
In other news, insider Todd Donald Wohler sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $39.80, for a total transaction of $79,600.00. Following the transaction, the insider now directly owns 11,919 shares of the company’s stock, valued at $474,376.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren Jeffrey Watt sold 2,279 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $39.33, for a total value of $89,633.07. Following the transaction, the insider now directly owns 5,626 shares in the company, valued at $221,270.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,709 shares of company stock valued at $344,944. Company insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its stake in shares of Ritchie Bros. Auctioneers by 0.5% during the second quarter. Baillie Gifford & Co. now owns 10,975,914 shares of the business services provider’s stock valued at $364,827,000 after purchasing an additional 59,501 shares during the period. Eagle Asset Management Inc. raised its holdings in Ritchie Bros. Auctioneers by 6.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,643,453 shares of the business services provider’s stock valued at $121,025,000 after buying an additional 218,387 shares during the last quarter. William Blair Investment Management LLC boosted its position in Ritchie Bros. Auctioneers by 2.1% during the 1st quarter. William Blair Investment Management LLC now owns 3,558,623 shares of the business services provider’s stock valued at $120,993,000 after buying an additional 73,089 shares during the period. Fiera Capital Corp boosted its position in Ritchie Bros. Auctioneers by 23.5% during the 2nd quarter. Fiera Capital Corp now owns 2,984,675 shares of the business services provider’s stock valued at $99,276,000 after buying an additional 568,680 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Ritchie Bros. Auctioneers by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,926,825 shares of the business services provider’s stock worth $97,230,000 after acquiring an additional 87,513 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.
Shares of NYSE RBA traded down $0.15 during midday trading on Wednesday, hitting $38.94. 318,833 shares of the company’s stock were exchanged, compared to its average volume of 344,379. The company has a current ratio of 1.24, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. The business’s fifty day moving average price is $37.53 and its two-hundred day moving average price is $35.20. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 4.43 and a beta of 0.72. Ritchie Bros. Auctioneers has a 12-month low of $30.76 and a 12-month high of $39.95.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Ritchie Bros. Auctioneers had a net margin of 10.08% and a return on equity of 15.27%. The business had revenue of $393.20 million for the quarter, compared to the consensus estimate of $352.51 million. During the same period last year, the firm posted $0.42 earnings per share. Ritchie Bros. Auctioneers’s quarterly revenue was up 27.4% on a year-over-year basis. Equities analysts expect that Ritchie Bros. Auctioneers will post 1.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 27th. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 2.05%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 74.07%.
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.
Further Reading: Market Perform
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