Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) has earned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.32.

Several brokerages have recently weighed in on RBA. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Saturday. Scotiabank raised their target price on Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. National Bank Financial lowered their target price on Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 9th. TD Securities lowered their target price on Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a “reduce” rating for the company in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $40.00 target price on Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research note on Wednesday, August 9th.

Institutional investors have recently modified their holdings of the company. Lloyds Banking Group plc boosted its position in shares of Ritchie Bros. Auctioneers by 59.1% in the second quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after buying an additional 1,656 shares in the last quarter. First Bank & Trust boosted its position in shares of Ritchie Bros. Auctioneers by 16.3% in the first quarter. First Bank & Trust now owns 5,191 shares of the business services provider’s stock worth $171,000 after buying an additional 727 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Ritchie Bros. Auctioneers during the first quarter worth about $176,000. Forward Management LLC boosted its position in shares of Ritchie Bros. Auctioneers by 3.5% in the first quarter. Forward Management LLC now owns 5,528 shares of the business services provider’s stock worth $182,000 after buying an additional 188 shares in the last quarter. Finally, World Asset Management Inc boosted its position in shares of Ritchie Bros. Auctioneers by 0.7% in the first quarter. World Asset Management Inc now owns 6,613 shares of the business services provider’s stock worth $218,000 after buying an additional 43 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ritchie Bros. Auctioneers (NYSE RBA) traded up 1.26% during mid-day trading on Tuesday, reaching $28.15. The company’s stock had a trading volume of 299,508 shares. The firm has a 50-day moving average of $28.15 and a 200-day moving average of $30.73. The firm has a market capitalization of $3.01 billion, a PE ratio of 60.93 and a beta of 0.55. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $166.20 million during the quarter, compared to the consensus estimate of $161.85 million. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Equities research analysts forecast that Ritchie Bros. Auctioneers will post $1.05 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 144.68%.

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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.

Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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