National Bank Financial Lowers Ritchie Bros. Auctioneers (NYSE:RBA) to Underperform

National Bank Financial lowered shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) from a sector perform rating to an underperform rating in a report published on Friday morning, The Fly reports. The brokerage currently has $35.00 target price on the business services provider’s stock, down from their prior target price of $35.50.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Ritchie Bros. Auctioneers from a buy rating to a hold rating in a report on Tuesday, October 15th. Robert W. Baird upped their price objective on shares of Ritchie Bros. Auctioneers from $38.00 to $40.00 and gave the stock an outperform rating in a research report on Monday, August 12th. TD Securities upped their price objective on shares of Ritchie Bros. Auctioneers from $28.00 to $29.00 and gave the stock a reduce rating in a research report on Monday, August 12th. Bank of America upped their price objective on shares of Ritchie Bros. Auctioneers from $32.00 to $33.50 and gave the stock an underperform rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada upped their price objective on shares of Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the stock a hold rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Ritchie Bros. Auctioneers presently has an average rating of Hold and a consensus price target of $37.38.

Shares of Ritchie Bros. Auctioneers stock traded up $0.62 on Friday, reaching $41.90. The stock had a trading volume of 791,997 shares, compared to its average volume of 348,732. Ritchie Bros. Auctioneers has a 1 year low of $30.76 and a 1 year high of $42.97. The company has a market cap of $4.39 billion, a P/E ratio of 38.80, a price-to-earnings-growth ratio of 4.67 and a beta of 0.69. The company has a current ratio of 1.24, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $39.96 and its two-hundred day moving average is $36.78.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Ritchie Bros. Auctioneers had a net margin of 10.08% and a return on equity of 15.27%. The firm had revenue of $289.80 million for the quarter, compared to the consensus estimate of $289.55 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities analysts anticipate that Ritchie Bros. Auctioneers will post 1.27 EPS for the current fiscal year.

In other Ritchie Bros. Auctioneers news, insider Todd Donald Wohler sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $39.80, for a total transaction of $79,600.00. Following the transaction, the insider now directly owns 11,919 shares in the company, valued at $474,376.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darren Jeffrey Watt sold 2,279 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $39.33, for a total transaction of $89,633.07. Following the transaction, the insider now owns 5,626 shares in the company, valued at $221,270.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,709 shares of company stock worth $344,944. 1.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in 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 valued at $453,895,000 after acquiring an additional 1,543,300 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Ritchie Bros. Auctioneers by 101.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,840 shares of the business services provider’s stock valued at $153,000 after acquiring an additional 1,934 shares during the last quarter. GW&K Investment Management LLC grew its position in 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 valued at $81,541,000 after acquiring an additional 248,524 shares during the last quarter. Carillon Tower Advisers Inc. grew its position in Ritchie Bros. Auctioneers by 2.5% during the third quarter. Carillon Tower Advisers Inc. now owns 2,685,399 shares of the business services provider’s stock valued at $107,148,000 after acquiring an additional 64,511 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in shares of Ritchie Bros. Auctioneers by 1.5% during the third quarter. Eagle Asset Management Inc. now owns 3,697,097 shares of the business services provider’s stock valued at $147,510,000 after purchasing an additional 53,644 shares during the period. Institutional investors and hedge funds own 89.73% 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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