FY2022 EPS Estimates for Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Reduced by Raymond James

Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) – Stock analysts at Raymond James cut their FY2022 earnings estimates for Ritchie Bros. Auctioneers in a research note issued to investors on Monday, May 2nd. Raymond James analyst B. Cherniavsky now forecasts that the business services provider will post earnings of $1.48 per share for the year, down from their prior forecast of $1.51. Raymond James currently has a “Market Perform” rating and a $55.00 target price on the stock. Raymond James also issued estimates for Ritchie Bros. Auctioneers’ FY2023 earnings at $1.73 EPS.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last issued its earnings results on Thursday, February 17th. The business services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.22). Ritchie Bros. Auctioneers had a net margin of 10.72% and a return on equity of 16.06%. The firm had revenue of $359.37 million for the quarter, compared to the consensus estimate of $391.89 million. During the same period last year, the firm earned $0.49 earnings per share.

Several other equities analysts also recently issued reports on RBA. Robert W. Baird cut their target price on Ritchie Bros. Auctioneers from $82.00 to $70.00 in a research report on Tuesday, February 22nd. TD Securities decreased their price objective on shares of Ritchie Bros. Auctioneers from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Monday. National Bankshares decreased their target price on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 22nd. StockNews.com initiated coverage on Ritchie Bros. Auctioneers in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.33.

NYSE RBA opened at $53.31 on Wednesday. Ritchie Bros. Auctioneers has a 12-month low of $48.65 and a 12-month high of $76.18. The business has a fifty day moving average price of $57.12. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 5.21 and a beta of 1.12.

In other Ritchie Bros. Auctioneers news, CEO Ann Fandozzi purchased 9,560 shares of Ritchie Bros. Auctioneers stock in a transaction dated Monday, February 28th. The stock was acquired at an average cost of $52.25 per share, with a total value of $499,510.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in Ritchie Bros. Auctioneers by 0.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,198,181 shares of the business services provider’s stock valued at $752,139,000 after acquiring an additional 99,917 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Ritchie Bros. Auctioneers by 1.2% in the third quarter. Janus Henderson Group PLC now owns 6,393,782 shares of the business services provider’s stock valued at $394,241,000 after purchasing an additional 77,438 shares during the period. Riverbridge Partners LLC grew its position in Ritchie Bros. Auctioneers by 2.3% in the 1st quarter. Riverbridge Partners LLC now owns 4,801,443 shares of the business services provider’s stock valued at $283,429,000 after buying an additional 109,980 shares in the last quarter. Invesco Ltd. increased its position in shares of Ritchie Bros. Auctioneers by 8.1% during the 3rd quarter. Invesco Ltd. now owns 4,392,942 shares of the business services provider’s stock valued at $270,867,000 after purchasing an additional 329,904 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its holdings in shares of Ritchie Bros. Auctioneers by 2.8% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,167,882 shares of the business services provider’s stock worth $256,992,000 after purchasing an additional 112,742 shares in the last quarter. 81.62% of the stock is currently owned by institutional investors.

Ritchie Bros. Auctioneers Company Profile (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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