Jefferies Group LLC reaffirmed their hold rating on shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) in a research report sent to investors on Tuesday. Jefferies Group LLC currently has a $26.00 price target on the business services provider’s stock, down from their previous price target of $29.00.
A number of other research analysts have also issued reports on RBA. BidaskClub upgraded shares of Ritchie Bros. Auctioneers from a sell rating to a hold rating in a research note on Tuesday, June 13th. National Bank Financial restated a sector perform under weight rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, June 29th. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a strong sell rating to a hold rating in a research note on Saturday, July 8th. CIBC lowered shares of Ritchie Bros. Auctioneers from a sector outperform rating to a sector perform rating and set a $28.00 price target on the stock. in a research note on Monday, July 10th. Finally, TD Securities cut their price target on shares of Ritchie Bros. Auctioneers from $28.00 to $27.00 and set a reduce rating on the stock in a research note on Monday, July 10th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $30.67.
Shares of Ritchie Bros. Auctioneers (NYSE RBA) traded up 0.83% during midday trading on Tuesday, reaching $28.04. 63,019 shares of the company traded hands. Ritchie Bros. Auctioneers has a 1-year low of $26.68 and a 1-year high of $39.96. The company has a 50 day moving average price of $29.98 and a 200 day moving average price of $30.08. The company has a market capitalization of $3.00 billion, a PE ratio of 61.09 and a beta of 0.57.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The business had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. During the same quarter in the prior year, the business posted $0.37 EPS. Ritchie Bros. Auctioneers’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts expect that Ritchie Bros. Auctioneers will post $0.85 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Wednesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is presently 144.68%.
In other news, CFO Sharon Ruth Driscoll purchased 1,375 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average cost of $29.77 per share, with a total value of $40,933.75. Following the completion of the acquisition, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $29,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lloyds Banking Group plc boosted its holdings in Ritchie Bros. Auctioneers by 59.1% during the second quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after buying an additional 1,656 shares in the last quarter. FNY Managed Accounts LLC purchased a new stake in Ritchie Bros. Auctioneers during the first quarter worth $176,000. First Bank & Trust boosted its holdings in Ritchie Bros. Auctioneers by 3.8% during the second quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after buying an additional 196 shares in the last quarter. Forward Management LLC boosted its holdings in Ritchie Bros. Auctioneers by 11.0% during the second quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock worth $176,000 after buying an additional 609 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Ritchie Bros. Auctioneers by 0.7% during the first quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock worth $221,000 after buying an additional 44 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.
About Ritchie Bros. Auctioneers
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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