Ritchie Bros. Auctioneers Inc (NYSE:RBA) Given Average Rating of “Hold” by Analysts

Shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) have earned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $35.69.

Several research firms have weighed in on RBA. National Bank Financial cut shares of WestJet Airlines from a “reduce” rating to a “tender” rating and increased their price target for the company from C$22.00 to C$31.00 in a report on Monday, May 13th. TD Securities lowered their price target on shares of Ritchie Bros. Auctioneers from $30.00 to $28.00 and set a “reduce” rating on the stock in a report on Monday, May 13th. ValuEngine cut shares of United Rentals from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Finally, Raymond James cut shares of RioCan Real Estate Investment Trust to a “hold” rating in a report on Monday, July 15th.

Ritchie Bros. Auctioneers stock traded down $0.02 during trading hours on Tuesday, hitting $36.18. The company had a trading volume of 740,106 shares, compared to its average volume of 359,422. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 4.32 and a beta of 0.74. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. Ritchie Bros. Auctioneers has a one year low of $30.76 and a one year high of $38.77. The business’s 50-day moving average is $34.47.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). The company had revenue of $303.40 million during the quarter, compared to the consensus estimate of $268.69 million. Ritchie Bros. Auctioneers had a net margin of 10.10% and a return on equity of 14.47%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. Equities analysts expect that Ritchie Bros. Auctioneers will post 1.2 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. FDx Advisors Inc. raised its stake in shares of Ritchie Bros. Auctioneers by 17.7% during the second quarter. FDx Advisors Inc. now owns 29,197 shares of the business services provider’s stock valued at $970,000 after acquiring an additional 4,392 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of Ritchie Bros. Auctioneers by 9.4% during the second quarter. NEXT Financial Group Inc now owns 3,557 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 307 shares during the last quarter. OLD National Bancorp IN raised its stake in shares of Ritchie Bros. Auctioneers by 47.9% during the second quarter. OLD National Bancorp IN now owns 13,577 shares of the business services provider’s stock valued at $451,000 after acquiring an additional 4,397 shares during the last quarter. Diversified Trust Co raised its stake in shares of Ritchie Bros. Auctioneers by 9.9% during the second quarter. Diversified Trust Co now owns 18,840 shares of the business services provider’s stock valued at $626,000 after acquiring an additional 1,690 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Ritchie Bros. Auctioneers during the first quarter valued at $82,000. 90.13% of the stock is currently owned by institutional investors.

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.

Further Reading: How prevalent are 12b-1 fees?

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

Receive News & Ratings for Ritchie Bros. Auctioneers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers and related companies with MarketBeat.com's FREE daily email newsletter.