Ritchie Bros. Auctioneers (NYSE:RBA) Downgraded to “Underperform” at National Bank Financial

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Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) was downgraded by equities researchers at National Bank Financial from a “sector perform” rating to an “underperform” rating in a report released on Friday, The Fly reports.

A number of other equities analysts have also recently issued reports on RBA. Raymond James reaffirmed a “market perform” rating and issued a $36.50 price objective on shares of Ritchie Bros. Auctioneers in a research note on Monday, October 21st. OTR Global raised shares of Ritchie Bros. Auctioneers to a “positive” rating in a research note on Friday, October 25th. ValuEngine cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. TD Securities raised their price objective on shares of Ritchie Bros. Auctioneers from $28.00 to $29.00 and gave the company a “reduce” rating in a research note on Monday, August 12th. Finally, 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 note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $36.25.

RBA stock traded down $0.38 during midday trading on Friday, reaching $41.28. The company’s stock had a trading volume of 1,072,627 shares, compared to its average volume of 346,689. Ritchie Bros. Auctioneers has a 52 week low of $30.76 and a 52 week high of $42.97. The stock has a market cap of $4.39 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 4.67 and a beta of 0.69. The company has a quick ratio of 1.12, a current ratio of 1.24 and a debt-to-equity ratio of 0.82. The business’s 50-day simple moving average is $39.84 and its 200-day simple moving average is $36.72.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Ritchie Bros. Auctioneers had a net margin of 10.08% and a return on equity of 15.27%. The firm had revenue of $289.80 million for the quarter, compared to analysts’ expectations of $289.55 million. During the same period last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities analysts forecast that Ritchie Bros. Auctioneers will post 1.27 earnings per share for the current fiscal year.

In other news, insider Todd Donald Wohler sold 2,000 shares of Ritchie Bros. Auctioneers stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.50, for a total transaction of $79,000.00. Following the transaction, the insider now directly owns 13,919 shares of the company’s stock, valued at $549,800.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Darren Jeffrey Watt sold 2,279 shares of Ritchie Bros. Auctioneers stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $39.33, for a total transaction 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 three months, insiders have sold 8,709 shares of company stock worth $344,944. Insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Capital Management Inc. ADV bought a new position in shares of Ritchie Bros. Auctioneers during the third quarter worth $39,000. Arcadia Investment Management Corp MI boosted its position in shares of Ritchie Bros. Auctioneers by 233.3% during the second quarter. Arcadia Investment Management Corp MI now owns 3,000 shares of the business services provider’s stock worth $100,000 after purchasing an additional 2,100 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Ritchie Bros. Auctioneers by 9.4% during the second quarter. NEXT Financial Group Inc now owns 3,557 shares of the business services provider’s stock worth $118,000 after purchasing an additional 307 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Ritchie Bros. Auctioneers by 101.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,840 shares of the business services provider’s stock worth $153,000 after purchasing an additional 1,934 shares in the last quarter. Finally, Hengehold Capital Management LLC bought a new position in shares of Ritchie Bros. Auctioneers during the third quarter worth $212,000. 89.73% of the stock is currently owned by 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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