TD Securities Increases Ritchie Bros. Auctioneers (NYSE:RBA) Price Target to $65.00
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) had its price target raised by stock analysts at TD Securities from $56.00 to $65.00 in a research note issued on Friday, AnalystRatings.net reports. The firm currently has a “hold” rating on the business services provider’s stock. TD Securities’ price objective indicates a potential upside of 1.39% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Raymond James boosted their price objective on Ritchie Bros. Auctioneers from $44.00 to $53.00 and gave the company a “market perform” rating in a research note on Monday, August 10th. Zacks Investment Research upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Saturday, August 8th. Barrington Research cut Ritchie Bros. Auctioneers from an “outperform” rating to a “market perform” rating in a research note on Friday, August 21st. Finally, National Bank Financial upped their price target on Ritchie Bros. Auctioneers from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Monday, August 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and a consensus price target of $50.50.
RBA stock opened at $64.11 on Friday. The business has a 50 day moving average price of $59.35 and a 200 day moving average price of $47.81. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 5.49 and a beta of 1.11. Ritchie Bros. Auctioneers has a fifty-two week low of $25.92 and a fifty-two week high of $65.98. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.68.
In related news, CFO Sharon Ruth Driscoll sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $61.95, for a total transaction of $929,250.00. Following the transaction, the chief financial officer now owns 6,057 shares of the company’s stock, valued at $375,231.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James J. Jeter sold 4,234 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $62.03, for a total value of $262,635.02. Following the transaction, the insider now directly owns 1,514 shares in the company, valued at approximately $93,913.42. The disclosure for this sale can be found here. Insiders have sold 28,283 shares of company stock worth $1,756,789 in the last ninety days. 0.83% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in RBA. Royal Bank of Canada grew its holdings in Ritchie Bros. Auctioneers by 78.0% during the first quarter. Royal Bank of Canada now owns 1,363,268 shares of the business services provider’s stock worth $46,595,000 after acquiring an additional 597,557 shares during the period. William Blair Investment Management LLC grew its holdings in Ritchie Bros. Auctioneers by 14.7% in the second quarter. William Blair Investment Management LLC now owns 4,291,168 shares of the business services provider’s stock valued at $175,294,000 after purchasing an additional 550,896 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Ritchie Bros. Auctioneers in the second quarter valued at $15,015,000. ArrowMark Colorado Holdings LLC grew its holdings in Ritchie Bros. Auctioneers by 6.9% in the second quarter. ArrowMark Colorado Holdings LLC now owns 4,578,480 shares of the business services provider’s stock valued at $187,031,000 after purchasing an additional 297,152 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Ritchie Bros. Auctioneers by 122.7% in the second quarter. Swiss National Bank now owns 472,500 shares of the business services provider’s stock valued at $19,105,000 after purchasing an additional 260,300 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.
Ritchie Bros. Auctioneers Company Profile
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.
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