Ritchie Bros. Auctioneers Inc (NYSE:RBA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) have been given an average rating of “Hold” by the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $36.57.

Several analysts have recently commented on RBA shares. TD Securities raised their target price on shares of Ritchie Bros. Auctioneers from $30.00 to $31.00 and gave the stock a “reduce” rating in a research note on Monday, November 11th. ValuEngine cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James set a $43.50 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “market perform” rating in a research note on Monday, November 11th. OTR Global upgraded shares of Ritchie Bros. Auctioneers to a “positive” rating in a research note on Friday, October 25th. Finally, Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.

Shares of RBA stock traded down $0.02 during mid-day trading on Monday, hitting $42.25. The stock had a trading volume of 8,490 shares, compared to its average volume of 449,950. Ritchie Bros. Auctioneers has a fifty-two week low of $30.76 and a fifty-two week high of $42.97. The firm has a market cap of $4.59 billion, a PE ratio of 39.07, a PEG ratio of 4.81 and a beta of 0.69. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 1.15. The company’s 50-day simple moving average is $40.24 and its 200-day simple moving average is $36.93.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its earnings results on Thursday, November 7th. The business services provider reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Ritchie Bros. Auctioneers had a net margin of 9.90% and a return on equity of 15.88%. The company had revenue of $289.80 million during the quarter, compared to analysts’ expectations of $289.55 million. During the same quarter last year, the business earned $0.18 EPS. The business’s revenue was up 18.1% on a year-over-year basis. On average, analysts expect that Ritchie Bros. Auctioneers will post 1.26 EPS for the current year.

In other news, insider Todd Donald Wohler sold 2,000 shares of Ritchie Bros. Auctioneers stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $39.80, for a total transaction of $79,600.00. Following the completion of the sale, the insider now directly owns 11,919 shares in the company, valued at $474,376.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Darren Jeffrey Watt sold 2,279 shares of Ritchie Bros. Auctioneers stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $39.33, for a total transaction of $89,633.07. Following the sale, the insider now owns 5,626 shares of the company’s stock, valued at $221,270.58. The disclosure for this sale can be found here. Insiders have sold a total of 6,707 shares of company stock valued at $265,867 over the last 90 days. 1.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of RBA. Massachusetts Financial Services Co. MA grew its holdings in shares of Ritchie Bros. Auctioneers by 15.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,375,826 shares of the business services provider’s stock worth $453,895,000 after buying an additional 1,543,300 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of Ritchie Bros. Auctioneers by 23.5% during the second quarter. Fiera Capital Corp now owns 2,984,675 shares of the business services provider’s stock worth $99,276,000 after buying an additional 568,680 shares in the last quarter. Mondrian Investment Partners LTD grew its holdings in shares of Ritchie Bros. Auctioneers by 18.6% during the third quarter. Mondrian Investment Partners LTD now owns 1,660,039 shares of the business services provider’s stock worth $87,667,000 after buying an additional 259,917 shares in the last quarter. GW&K Investment Management LLC grew its holdings in shares of Ritchie Bros. Auctioneers by 13.8% during the third quarter. GW&K Investment Management LLC now owns 2,043,635 shares of the business services provider’s stock worth $81,541,000 after buying an additional 248,524 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Ritchie Bros. Auctioneers by 6.4% during the second quarter. Eagle Asset Management Inc. now owns 3,643,453 shares of the business services provider’s stock worth $121,025,000 after buying an additional 218,387 shares in the last quarter. Institutional investors and hedge funds own 91.41% 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 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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Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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