Ritchie Bros. Auctioneers (RBA) Price Target Raised to $37.00
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) had its price objective upped by National Bank Financial from $35.00 to $37.00 in a report issued on Wednesday. They currently have an outperform rating on the business services provider’s stock. National Bank Financial also issued estimates for Ritchie Bros. Auctioneers’ Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $1.05 EPS and FY2019 earnings at $1.42 EPS.
Other research analysts also recently issued research reports about the company. TD Securities boosted their price target on Ritchie Bros. Auctioneers from $22.00 to $25.00 and gave the company a reduce rating in a research note on Wednesday, January 10th. Scotiabank boosted their price target on Ritchie Bros. Auctioneers from $29.00 to $35.00 and gave the company an outperform rating in a research note on Wednesday, January 10th. Raymond James Financial boosted their price target on Ritchie Bros. Auctioneers from $26.50 to $31.00 and gave the company a market perform rating in a research note on Wednesday. OTR Global raised Ritchie Bros. Auctioneers from a reduce rating to a neutral rating in a research note on Thursday, February 1st. Finally, Oppenheimer reaffirmed a hold rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, November 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $32.80.
Ritchie Bros. Auctioneers (NYSE:RBA) opened at $32.49 on Wednesday. The company has a market capitalization of $3,480.00, a PE ratio of 54.15, a P/E/G ratio of 3.32 and a beta of 0.64. Ritchie Bros. Auctioneers has a 52 week low of $24.08 and a 52 week high of $35.17. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.31 and a quick ratio of 1.11.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, February 15th. Ritchie Bros. Auctioneers’s payout ratio is 113.33%.
In other Ritchie Bros. Auctioneers news, insider Karl William Werner sold 5,400 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $28.68, for a total transaction of $154,872.00. Following the completion of the transaction, the insider now owns 5,400 shares of the company’s stock, valued at $154,872. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Diversified Trust Co raised its stake in Ritchie Bros. Auctioneers by 10.3% during the fourth quarter. Diversified Trust Co now owns 17,595 shares of the business services provider’s stock worth $527,000 after acquiring an additional 1,650 shares in the last quarter. Swiss National Bank raised its stake in Ritchie Bros. Auctioneers by 1.2% during the fourth quarter. Swiss National Bank now owns 182,300 shares of the business services provider’s stock worth $5,463,000 after acquiring an additional 2,100 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Ritchie Bros. Auctioneers by 24.7% in the third quarter. Advisor Group Inc. now owns 12,197 shares of the business services provider’s stock valued at $386,000 after buying an additional 2,417 shares during the period. Stephens Inc. AR increased its stake in shares of Ritchie Bros. Auctioneers by 33.8% in the fourth quarter. Stephens Inc. AR now owns 11,001 shares of the business services provider’s stock valued at $329,000 after buying an additional 2,776 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Ritchie Bros. Auctioneers by 38.3% in the fourth quarter. LPL Financial LLC now owns 10,885 shares of the business services provider’s stock valued at $326,000 after buying an additional 3,017 shares during the period.
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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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