Raymond James Financial, Inc. Cuts Ritchie Bros. Auctioneers Incorporated (RBA) Price Target to $26.50

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) had its price objective cut by Raymond James Financial, Inc. from $29.00 to $26.50 in a research note issued to investors on Monday. They currently have a market perform rating on the business services provider’s stock.

Other equities analysts also recently issued reports about the stock. Scotiabank upped their price objective on shares of Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the company an outperform rating in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Ritchie Bros. Auctioneers in a report on Monday. Jefferies Group LLC reiterated a hold rating and issued a $26.00 price objective (down from $29.00) on shares of Ritchie Bros. Auctioneers in a report on Tuesday, October 10th. National Bank Financial decreased their price objective on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a sector perform rating on the stock in a report on Wednesday, August 9th. Finally, TD Securities decreased their price objective on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a reduce rating on the stock in a report on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $29.20.

Shares of Ritchie Bros. Auctioneers (NYSE RBA) traded down $0.19 on Monday, reaching $24.85. 1,049,900 shares of the company were exchanged, compared to its average volume of 655,176. The firm has a market capitalization of $2,683.91, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66. Ritchie Bros. Auctioneers has a fifty-two week low of $24.08 and a fifty-two week high of $39.96. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.20.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.05). The firm had revenue of $141.05 million for the quarter, compared to analyst estimates of $139.96 million. Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. Ritchie Bros. Auctioneers’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. analysts predict that Ritchie Bros. Auctioneers will post 0.86 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 28th. This represents a $0.68 annualized dividend and a yield of 2.74%. Ritchie Bros. Auctioneers’s dividend payout ratio is 111.48%.

In related news, CFO Sharon Ruth Driscoll bought 1,375 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price 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 $29,770. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.39% of the company’s stock.

Several hedge funds have recently bought and sold shares of RBA. Janus Henderson Group PLC bought a new position in shares of Ritchie Bros. Auctioneers in the second quarter worth about $175,728,000. Mondrian Investment Partners LTD lifted its holdings in shares of Ritchie Bros. Auctioneers by 35.9% in the third quarter. Mondrian Investment Partners LTD now owns 3,763,686 shares of the business services provider’s stock worth $148,477,000 after acquiring an additional 994,240 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Ritchie Bros. Auctioneers by 148.2% in the second quarter. Ameriprise Financial Inc. now owns 1,256,159 shares of the business services provider’s stock worth $35,631,000 after acquiring an additional 750,038 shares during the last quarter. Marathon Asset Management LLP lifted its holdings in shares of Ritchie Bros. Auctioneers by 54.9% in the third quarter. Marathon Asset Management LLP now owns 1,796,051 shares of the business services provider’s stock worth $56,645,000 after acquiring an additional 636,529 shares during the last quarter. Finally, Riverbridge Partners LLC increased its stake in shares of Ritchie Bros. Auctioneers by 18.4% in the second quarter. Riverbridge Partners LLC now owns 3,640,160 shares of the business services provider’s stock valued at $104,618,000 after buying an additional 565,290 shares during the period. 96.01% of the stock is 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.

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

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