Ritchie Bros. Auctioneers Inc (RBA) PT Lowered to C$35.00

Ritchie Bros. Auctioneers Inc (TSE:RBA) (NYSE:RBA) had its target price lowered by analysts at TD Securities to C$35.00 in a research report issued on Monday, StockTargetPrices.com reports. The firm presently has a “reduce” rating on the stock. TD Securities’ price target suggests a potential downside of 1.99% from the company’s previous close.

Other analysts also recently issued research reports about the company. Scotiabank reduced their price objective on Ritchie Bros. Auctioneers to C$41.00 and set an “outperform” rating on the stock in a research note on Monday. CIBC cut Ritchie Bros. Auctioneers from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from C$36.00 to C$28.00 in a report on Monday. Royal Bank of Canada dropped their target price on Ritchie Bros. Auctioneers to C$55.50 and set an “outperform” rating for the company in a report on Monday, May 8th. Raymond James Financial, Inc. dropped their target price on Ritchie Bros. Auctioneers from C$37.50 to C$33.50 and set a “market perform” rating for the company in a report on Monday, May 15th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of C$38.60.

Shares of Ritchie Bros. Auctioneers (TSE RBA) traded down 7.05% during mid-day trading on Monday, reaching $34.82. The company’s stock had a trading volume of 343,533 shares. Ritchie Bros. Auctioneers has a 12-month low of $34.76 and a 12-month high of $52.88. The stock has a market capitalization of $3.73 billion and a P/E ratio of 51.21. The company’s 50-day moving average price is $41.06 and its 200-day moving average price is $42.97.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Tuesday, June 13th were issued a $0.17 dividend. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, May 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.90%.

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Ritchie Bros. Auctioneers Company Profile

Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.

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

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