Ritchie Bros. Auctioneers Inc (RBA) Receives Average Recommendation of “Hold” from Analysts
Shares of Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$39.50.
Several research analysts have commented on RBA shares. CIBC lowered Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and cut their price target for the stock from C$36.00 to C$28.00 in a research report on Monday, July 10th. National Bank Financial reaffirmed a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research report on Thursday, June 29th. TD Securities cut their price target on Ritchie Bros. Auctioneers to C$35.00 and set a “reduce” rating on the stock in a research report on Monday, July 10th. Scotiabank reaffirmed an “outperform” rating and set a C$41.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, September 12th. Finally, Raymond James Financial, Inc. cut their price target on Ritchie Bros. Auctioneers to C$38.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 11th.
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In related news, insider Sharon Driscoll bought 1,375 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were acquired at an average price of C$36.17 per share, with a total value of C$49,733.75.
Ritchie Bros. Auctioneers (RBA) traded up 2.45% during midday trading on Friday, reaching $38.87. The company’s stock had a trading volume of 120,754 shares. The stock’s 50 day moving average is $36.08 and its 200 day moving average is $39.58. Ritchie Bros. Auctioneers has a 12-month low of $34.03 and a 12-month high of $52.88. The stock has a market cap of $4.16 billion and a P/E ratio of 84.13.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, August 23rd.
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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