Ritchie Bros. Auctioneers Incorporated (RBA) Lifted to “Outperform” at National Bank Financial
National Bank Financial upgraded shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) from a sector perform rating to an outperform rating in a research note published on Monday. National Bank Financial currently has $30.50 price objective on the business services provider’s stock, up from their prior price objective of $28.00.
Other equities analysts also recently issued research reports about the stock. Scotiabank raised their target price on shares of Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the company an outperform rating in a research note on Wednesday, August 9th. TD Securities decreased their target price on shares of 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. Jefferies Group LLC reaffirmed a hold rating and set a $26.00 target price (down previously from $29.00) on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, October 10th. Raymond James Financial, Inc. decreased their target price on shares of Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a market perform rating for the company in a research note on Tuesday, October 10th. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, November 13th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $29.45.
Shares of Ritchie Bros. Auctioneers (NYSE RBA) opened at $25.57 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.20 and a debt-to-equity ratio of 1.11. Ritchie Bros. Auctioneers has a 1-year low of $24.08 and a 1-year high of $39.96. The company has a market cap of $2,797.53, a PE ratio of 31.07, a price-to-earnings-growth ratio of 3.24 and a beta of 0.66.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. The company had revenue of $141.05 million during the quarter, compared to analysts’ expectations of $139.96 million. During the same quarter last year, the business earned $0.20 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. equities analysts anticipate that Ritchie Bros. Auctioneers will post 0.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, November 28th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is currently 111.48%.
In other news, CFO Sharon Ruth Driscoll purchased 1,375 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average price of $29.77 per share, with a total value of $40,933.75. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $29,770. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Zions Bancorporation bought a new stake in Ritchie Bros. Auctioneers in the 3rd quarter worth approximately $127,000. Lloyds Banking Group plc grew its position in Ritchie Bros. Auctioneers by 59.1% in the 2nd quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after purchasing an additional 1,656 shares during the period. First Bank & Trust grew its position in Ritchie Bros. Auctioneers by 3.8% in the 2nd quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after purchasing an additional 196 shares during the period. Forward Management LLC grew its position in Ritchie Bros. Auctioneers by 11.0% in the 2nd quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock worth $176,000 after purchasing an additional 609 shares during the period. Finally, ETRADE Capital Management LLC bought a new stake in Ritchie Bros. Auctioneers in the 3rd quarter worth approximately $218,000. 96.87% of the stock is owned by institutional investors and hedge funds.
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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