TD Securities Trims Ritchie Bros. Auctioneers Incorporated (RBA) Target Price to $23.00
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) had its target price trimmed by TD Securities from $25.00 to $23.00 in a research note published on Tuesday morning. The firm currently has a reduce rating on the business services provider’s stock.
Several other brokerages also recently commented on RBA. National Bank Financial restated a sector perform under weight rating on shares of Ritchie Bros. Auctioneers in a report on Thursday, June 29th. CIBC downgraded shares of Ritchie Bros. Auctioneers from a sector outperform rating to a sector perform rating and set a $28.00 target price on the stock. in a report on Monday, July 10th. Scotiabank set a $34.00 target price on shares of Ritchie Bros. Auctioneers and gave the stock an outperform rating in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a sell rating to a hold rating in a report on Saturday, August 12th. Finally, Jefferies Group LLC restated a hold rating and set a $29.00 target price on shares of Ritchie Bros. Auctioneers in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Ritchie Bros. Auctioneers has an average rating of Hold and a consensus target price of $30.67.
Ritchie Bros. Auctioneers (NYSE:RBA) traded down 0.32% on Tuesday, reaching $28.08. 199,133 shares of the company’s stock traded hands. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 61.18 and a beta of 0.57. Ritchie Bros. Auctioneers has a 52-week low of $26.68 and a 52-week high of $39.96. The stock’s 50 day moving average is $29.96 and its 200 day moving average is $30.05.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm 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 8.96% and a return on equity of 14.72%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. On average, equities research analysts predict that Ritchie Bros. Auctioneers will post $0.84 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.41%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 144.68%.
In other news, CFO Sharon Ruth Driscoll bought 1,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average cost of $28.59 per share, for a total transaction of $28,590.00. Following the completion of the acquisition, the chief financial officer now owns 1,000 shares in the company, valued at $28,590. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley increased its holdings in Ritchie Bros. Auctioneers by 1.7% during the first quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock worth $14,841,000 after buying an additional 7,478 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Ritchie Bros. Auctioneers by 338.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the business services provider’s stock worth $303,000 after buying an additional 6,257 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Ritchie Bros. Auctioneers by 3.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 116,601 shares of the business services provider’s stock worth $3,351,000 after buying an additional 3,601 shares during the last quarter. Bradley Foster & Sargent Inc. CT acquired a new position in Ritchie Bros. Auctioneers during the second quarter worth $3,937,000. Finally, Nicholas Company Inc. increased its holdings in Ritchie Bros. Auctioneers by 332.7% during the second quarter. Nicholas Company Inc. now owns 154,595 shares of the business services provider’s stock worth $4,443,000 after buying an additional 118,865 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.
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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