Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Receives Consensus Recommendation of “Hold” from Brokerages

Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) has been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $62.43.

A number of brokerages recently commented on RBA. StockNews.com upgraded Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a report on Monday. National Bank Financial lowered Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating and set a $56.00 price target on the stock. in a report on Tuesday, July 12th. National Bankshares lowered Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating and set a $56.00 price target on the stock. in a report on Wednesday, July 13th. Raymond James set a $55.00 target price on Ritchie Bros. Auctioneers and gave the company a “market perform” rating in a research note on Thursday, May 12th. Finally, TD Securities boosted their target price on Ritchie Bros. Auctioneers from $55.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, May 12th.

Ritchie Bros. Auctioneers Stock Up 2.3 %

Shares of NYSE:RBA opened at $68.76 on Wednesday. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 5.68 and a beta of 1.00. The company has a quick ratio of 1.12, a current ratio of 1.21 and a debt-to-equity ratio of 1.29. Ritchie Bros. Auctioneers has a 12-month low of $48.65 and a 12-month high of $76.18. The business’s 50 day moving average is $62.06 and its 200 day moving average is $59.34.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last issued its quarterly earnings results on Monday, May 9th. The business services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $1.43. The business had revenue of $393.92 million for the quarter, compared to analyst estimates of $344.15 million. Ritchie Bros. Auctioneers had a return on equity of 28.84% and a net margin of 20.40%. Ritchie Bros. Auctioneers’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that Ritchie Bros. Auctioneers will post 1.71 earnings per share for the current fiscal year.

Ritchie Bros. Auctioneers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, May 26th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 36.90%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter worth approximately $264,000. Avantax Advisory Services Inc. purchased a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter worth approximately $216,000. National Bank of Canada FI purchased a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter worth approximately $8,427,000. Signaturefd LLC grew its stake in shares of Ritchie Bros. Auctioneers by 13.9% in the 4th quarter. Signaturefd LLC now owns 1,423 shares of the business services provider’s stock worth $87,000 after buying an additional 174 shares during the last quarter. Finally, RMB Capital Management LLC grew its stake in shares of Ritchie Bros. Auctioneers by 3.4% in the 4th quarter. RMB Capital Management LLC now owns 224,676 shares of the business services provider’s stock worth $13,752,000 after buying an additional 7,404 shares during the last quarter. Institutional investors own 81.62% of the company’s stock.

About Ritchie Bros. Auctioneers

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

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