Ritchie Bros. Auctioneers (RBA) Cut to “Hold” at ValuEngine

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada raised their price target on Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Monday, August 13th. Zacks Investment Research raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Wednesday, August 29th. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, August 13th. TD Securities raised their price target on Ritchie Bros. Auctioneers from $26.00 to $28.00 and gave the stock a “reduce” rating in a research note on Monday, August 13th. Finally, Raymond James raised their price target 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Ritchie Bros. Auctioneers stock traded down $0.10 during mid-day trading on Thursday, hitting $33.28. The company’s stock had a trading volume of 474,300 shares, compared to its average volume of 450,316. The company has a market cap of $3.63 billion, a P/E ratio of 41.09, a P/E/G ratio of 2.30 and a beta of 0.77. The company has a current ratio of 1.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.90. Ritchie Bros. Auctioneers has a 52-week low of $26.94 and a 52-week high of $38.77.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings data on Thursday, November 8th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $159.30 million during the quarter, compared to the consensus estimate of $163.59 million. Ritchie Bros. Auctioneers had a return on equity of 14.15% and a net margin of 12.36%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. On average, equities analysts forecast that Ritchie Bros. Auctioneers will post 1.11 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank raised its stake in shares of Ritchie Bros. Auctioneers by 32.2% in the 2nd 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. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Ritchie Bros. Auctioneers by 293.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,900 shares of the business services provider’s stock valued at $1,769,000 after acquiring an additional 38,700 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Ritchie Bros. Auctioneers by 24.5% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 173,664 shares of the business services provider’s stock valued at $5,926,000 after acquiring an additional 34,199 shares in the last quarter. Tobam raised its stake in shares of Ritchie Bros. Auctioneers by 2.2% in the 2nd 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. raised its stake in shares of Ritchie Bros. Auctioneers by 2.6% in the 2nd 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. 91.10% of the stock is owned by institutional investors.

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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