Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA)’s share price was down 5.9% during mid-day trading on Wednesday after National Bank Financial lowered their price target on the stock from $31.50 to $30.00. National Bank Financial currently has a sector perform rating on the stock. Ritchie Bros. Auctioneers traded as low as $27.10 and last traded at $27.90, with a volume of 2,200,962 shares trading hands. The stock had previously closed at $29.64.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada set a $41.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research report on Saturday, April 22nd. TheStreet cut shares of Ritchie Bros. Auctioneers from a “b” rating to a “c+” rating in a research report on Monday, May 8th. BidaskClub upgraded shares of Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Jefferies Group LLC reiterated a “hold” rating and set a $29.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Monday, May 15th. Finally, Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.46.

Large investors have recently made changes to their positions in the company. Lloyds Banking Group plc boosted its stake 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 during the period. First Bank & Trust boosted its stake 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 during the period. FNY Managed Accounts LLC acquired a new stake in shares of Ritchie Bros. Auctioneers during the first quarter worth $176,000. Forward Management LLC boosted its stake 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 during the period. Finally, World Asset Management Inc boosted its stake 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 during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

The firm has a 50 day moving average price of $28.30 and a 200 day moving average price of $30.91. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 41.03 and a beta of 0.55.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $166.20 million for the quarter, compared to the consensus estimate of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 13.02% and a return on equity of 15.19%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. On average, equities analysts expect that Ritchie Bros. Auctioneers Incorporated will post $1.05 EPS for the current 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 given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 100.00%.

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About Ritchie Bros. Auctioneers

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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