Ritchie Bros. Auctioneers (NYSE:RBA) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) from a hold rating to a sell rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative auction methods, attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world. “

RBA has been the topic of several other reports. Raymond James boosted their target price on Whitecap Resources from C$8.50 to C$8.75 and gave the stock a strong-buy rating in a report on Monday, June 10th. National Bank Financial downgraded WestJet Airlines from a reduce rating to a tender rating and boosted their target price for the stock from C$22.00 to C$31.00 in a report on Monday, May 13th. Royal Bank of Canada boosted their target price on NVIDIA to $200.00 and gave the stock an outperform rating in a report on Monday, May 13th. CIBC reissued a hold rating and issued a $37.00 target price on shares of Ritchie Bros. Auctioneers in a report on Wednesday, May 15th. Finally, ValuEngine downgraded Woodward, Inc.Common Stock from a buy rating to a hold rating in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average price target of $36.28.

Ritchie Bros. Auctioneers stock opened at $34.38 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $34.21. Ritchie Bros. Auctioneers has a 12 month low of $30.76 and a 12 month high of $38.77. The company has a market capitalization of $3.73 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 4.04 and a beta of 0.74.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, May 9th. The business services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). Ritchie Bros. Auctioneers had a return on equity of 14.47% and a net margin of 10.10%. The company had revenue of $303.40 million during the quarter, compared to the consensus estimate of $268.69 million. During the same period last year, the firm posted $0.16 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts expect that Ritchie Bros. Auctioneers will post 1.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, May 28th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 66.67%.

Several hedge funds have recently bought and sold shares of the company. Shell Asset Management Co. raised its stake in shares of Ritchie Bros. Auctioneers by 3.5% in the first quarter. Shell Asset Management Co. now owns 8,890 shares of the business services provider’s stock worth $302,000 after purchasing an additional 300 shares during the last quarter. Brand Asset Management Group Inc. purchased a new position in shares of Ritchie Bros. Auctioneers in the first quarter worth $54,000. Comerica Bank raised its stake in shares of Ritchie Bros. Auctioneers by 5.6% in the fourth quarter. Comerica Bank now owns 10,559 shares of the business services provider’s stock worth $380,000 after purchasing an additional 564 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of Ritchie Bros. Auctioneers by 3.1% in the fourth quarter. Gotham Asset Management LLC now owns 24,371 shares of the business services provider’s stock worth $797,000 after purchasing an additional 730 shares during the last quarter. Finally, Manchester Capital Management LLC purchased a new position in shares of Ritchie Bros. Auctioneers in the first quarter worth $34,000. Hedge funds and other institutional investors own 90.13% of the company’s stock.

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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