Ritchie Bros. Auctioneers Inc (NYSE:RBA) Sees Large Growth in Short Interest

Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 373,000 shares, a growth of 23.5% from the September 30th total of 302,100 shares. Based on an average daily volume of 369,300 shares, the short-interest ratio is currently 1.0 days. Approximately 0.4% of the shares of the company are sold short.

Ritchie Bros. Auctioneers stock traded down $0.13 during midday trading on Friday, hitting $42.27. The stock had a trading volume of 303,049 shares, compared to its average volume of 440,770. The firm’s fifty day moving average is $40.24 and its two-hundred day moving average is $36.93. The company has a market capitalization of $4.50 billion, a PE ratio of 39.14, a P/E/G ratio of 4.71 and a beta of 0.69. Ritchie Bros. Auctioneers has a 52-week low of $30.76 and a 52-week high of $42.97. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.80.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 7th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company had revenue of $289.80 million during the quarter, compared to analyst estimates of $289.55 million. Ritchie Bros. Auctioneers had a net margin of 9.90% and a return on equity of 15.88%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. As a group, equities research analysts predict that Ritchie Bros. Auctioneers will post 1.26 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the stock. OTR Global upgraded shares of Ritchie Bros. Auctioneers to a “positive” rating in a research note on Friday, October 25th. Barrington Research reissued a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Robert W. Baird increased their target price on shares of Ritchie Bros. Auctioneers from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, TD Securities increased their target price on shares of Ritchie Bros. Auctioneers from $30.00 to $31.00 and gave the stock a “reduce” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Ritchie Bros. Auctioneers has a consensus rating of “Hold” and a consensus target price of $37.38.

In other news, insider Darren Jeffrey Watt sold 2,279 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $39.33, for a total value of $89,633.07. Following the transaction, the insider now owns 5,626 shares in the company, valued at approximately $221,270.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Donald Wohler sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $39.80, for a total transaction of $79,600.00. Following the completion of the transaction, the insider now owns 11,919 shares in the company, valued at approximately $474,376.20. The disclosure for this sale can be found here. Insiders sold a total of 8,707 shares of company stock worth $344,867 in the last quarter. Company insiders own 1.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Quest Capital Management Inc. ADV purchased a new stake in Ritchie Bros. Auctioneers during the 3rd quarter valued at approximately $39,000. Arcadia Investment Management Corp MI grew its holdings in Ritchie Bros. Auctioneers by 233.3% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 3,000 shares of the business services provider’s stock valued at $100,000 after buying an additional 2,100 shares in the last quarter. NEXT Financial Group Inc grew its holdings in Ritchie Bros. Auctioneers by 9.4% during the 2nd quarter. NEXT Financial Group Inc now owns 3,557 shares of the business services provider’s stock valued at $118,000 after buying an additional 307 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Ritchie Bros. Auctioneers by 101.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,840 shares of the business services provider’s stock valued at $153,000 after buying an additional 1,934 shares in the last quarter. Finally, Hengehold Capital Management LLC purchased a new stake in Ritchie Bros. Auctioneers during the 3rd quarter valued at approximately $212,000. 91.67% of the stock is owned by 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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