Brokerages Set Ritchie Bros. Auctioneers Inc (RBA) PT at $39.50
Shares of Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) have been assigned an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$39.50.
Several research analysts have recently issued reports on RBA shares. CIBC cut shares of Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and lowered their target price for the company from C$36.00 to C$28.00 in a report on Monday, July 10th. National Bank Financial restated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. Raymond James Financial, Inc. lowered their target price on shares of Ritchie Bros. Auctioneers from C$37.50 to C$33.50 and set a “market perform” rating for the company in a report on Monday, May 8th. TD Securities lowered their target price on shares of Ritchie Bros. Auctioneers to C$35.00 and set a “reduce” rating for the company in a report on Monday, July 10th. Finally, Barrington Research restated a “market perform” rating on shares of Ritchie Bros. Auctioneers in a report on Wednesday, May 10th.
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In related news, insider Sharon Driscoll bought 1,000 shares of the stock in a transaction dated Friday, August 25th. The stock was acquired at an average price of C$35.72 per share, for a total transaction of C$35,720.00.
Ritchie Bros. Auctioneers (RBA) traded down 0.14% on Wednesday, hitting $35.71. The stock had a trading volume of 69,505 shares. Ritchie Bros. Auctioneers has a 52-week low of $34.03 and a 52-week high of $52.88. The company’s 50 day moving average price is $35.47 and its 200 day moving average price is $40.31. The firm has a market cap of $3.82 billion and a price-to-earnings ratio of 77.29.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Wednesday, August 23rd.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated, together with its subsidiaries, sells industrial equipment and other assets for the construction, agriculture, transportation, energy, mining, forestry, material handling, marine, and real estate industries through its unreserved auctions and online marketplaces.
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