Ritchie Bros. Auctioneers Inc (RBA) Given Consensus Rating of “Hold” by Brokerages

Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) has been given an average recommendation of “Hold” by the fifteen analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $36.11.

A number of research firms recently commented on RBA. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday, September 28th. Macquarie lifted their price objective on Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Scotiabank set a $39.00 price objective on Ritchie Bros. Auctioneers and gave the stock a “hold” rating in a research note on Monday, August 13th. Finally, Raymond James lifted their price objective on Ritchie Bros. Auctioneers from $34.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, August 13th.

Shares of Ritchie Bros. Auctioneers stock traded down $0.23 during midday trading on Thursday, reaching $33.10. The company had a trading volume of 80,997 shares, compared to its average volume of 349,469. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 1.13. The firm has a market cap of $3.57 billion, a P/E ratio of 40.86, a P/E/G ratio of 2.30 and a beta of 0.78. Ritchie Bros. Auctioneers has a fifty-two week low of $24.08 and a fifty-two week high of $38.77.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Thursday, August 9th. The business services provider reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. The company had revenue of $206.80 million for the quarter, compared to analyst estimates of $225.52 million. Ritchie Bros. Auctioneers had a return on equity of 13.42% and a net margin of 12.36%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. Equities analysts anticipate that Ritchie Bros. Auctioneers will post 1.1 earnings per share for the current fiscal year.

In other Ritchie Bros. Auctioneers news, SVP Kieran Colquhoun Holm sold 13,240 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $38.24, for a total value of $506,297.60. Following the completion of the sale, the senior vice president now directly owns 11,278 shares in the company, valued at $431,270.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Hedge funds have recently modified their holdings of the business. CWM LLC increased its holdings in shares of Ritchie Bros. Auctioneers by 2.2% during the second quarter. CWM LLC now owns 93,061 shares of the business services provider’s stock valued at $3,175,000 after acquiring an additional 2,036 shares in the last quarter. Norris Perne & French LLP MI increased its holdings in shares of Ritchie Bros. Auctioneers by 0.6% during the second quarter. Norris Perne & French LLP MI now owns 344,133 shares of the business services provider’s stock valued at $11,742,000 after acquiring an additional 2,084 shares in the last quarter. Comerica Bank increased its holdings in shares of Ritchie Bros. Auctioneers by 32.2% during the second quarter. Comerica Bank now owns 9,453 shares of the business services provider’s stock valued at $308,000 after acquiring an additional 2,300 shares in the last quarter. Tobam increased its holdings in shares of Ritchie Bros. Auctioneers by 2.2% during the second quarter. Tobam now owns 121,000 shares of the business services provider’s stock valued at $4,125,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Ritchie Bros. Auctioneers by 2.6% during the second quarter. Sei Investments Co. now owns 139,990 shares of the business services provider’s stock valued at $4,777,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved 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.

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Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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