Raymond James Reiterates $55.00 Price Target for Ritchie Bros. Auctioneers (NYSE:RBA)

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) has been given a $55.00 target price by research analysts at Raymond James in a report released on Monday, BayStreet.CA reports. The firm currently has a “market perform” rating on the business services provider’s stock. Raymond James’ price target points to a potential upside of 3.64% from the company’s current price.

Several other analysts also recently commented on RBA. National Bankshares dropped their target price on shares of Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 22nd. StockNews.com initiated coverage on shares of Ritchie Bros. Auctioneers in a report on Thursday, March 31st. They set a “hold” rating on the stock. Royal Bank of Canada upgraded shares of Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from $69.00 to $60.00 in a report on Tuesday, February 22nd. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, National Bank Financial lowered their price objective on shares of Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $58.33.

Shares of NYSE RBA traded down $2.02 during mid-day trading on Monday, hitting $53.07. The company’s stock had a trading volume of 32,554 shares, compared to its average volume of 478,985. The stock has a market capitalization of $5.87 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 5.21 and a beta of 1.15. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 1.62. Ritchie Bros. Auctioneers has a one year low of $48.65 and a one year high of $76.18. The company has a fifty day simple moving average of $57.03.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last released its quarterly earnings data on Thursday, February 17th. The business services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.22). Ritchie Bros. Auctioneers had a return on equity of 16.06% and a net margin of 10.72%. The firm had revenue of $359.37 million for the quarter, compared to the consensus estimate of $391.89 million. During the same period in the previous year, the business earned $0.49 EPS. On average, equities research analysts anticipate that Ritchie Bros. Auctioneers will post 1.51 EPS for the current fiscal year.

In related news, CEO Ann Fandozzi acquired 9,560 shares of Ritchie Bros. Auctioneers stock in a transaction on Monday, February 28th. The stock was purchased at an average cost of $52.25 per share, with a total value of $499,510.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.71% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Vigilant Capital Management LLC boosted its position in shares of Ritchie Bros. Auctioneers by 669.2% in the first quarter. Vigilant Capital Management LLC now owns 500 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 435 shares during the period. Addison Advisors LLC bought a new stake in shares of Ritchie Bros. Auctioneers in the first quarter valued at about $37,000. Manchester Capital Management LLC boosted its position in shares of Ritchie Bros. Auctioneers by 1,846.9% in the third quarter. Manchester Capital Management LLC now owns 623 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 591 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Ritchie Bros. Auctioneers by 70.1% in the fourth quarter. Carroll Financial Associates Inc. now owns 767 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 316 shares during the period. Finally, Curi Wealth Management LLC bought a new stake in shares of Ritchie Bros. Auctioneers in the fourth quarter valued at about $58,000. 81.62% of the stock is owned by institutional investors.

About Ritchie Bros. Auctioneers (Get Rating)

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. It sells a range of used and unused commercial assets, including earthmoving equipment, truck tractors and trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

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