Ritchie Bros. Auctioneers (NYSE:RBA) Sees Strong Trading Volume

Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) saw unusually-strong trading volume on Monday . Approximately 19,880 shares were traded during mid-day trading, a decline of 96% from the previous session’s volume of 472,886 shares.The stock last traded at $65.24 and had previously closed at $65.46.

Analyst Ratings Changes

A number of brokerages have issued reports on RBA. National Bank Financial cut Ritchie Bros. Auctioneers from a “sector perform” rating to an “underperform” rating and set a $56.00 target price for the company. in a research report on Tuesday, July 12th. StockNews.com raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating in a research report on Saturday, August 13th. National Bankshares upped their target price on Ritchie Bros. Auctioneers from $56.00 to $60.00 and gave the stock an “underperform” rating in a research report on Monday, August 8th. Bank of America raised Ritchie Bros. Auctioneers from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, July 14th. Finally, Raymond James upped their target price on Ritchie Bros. Auctioneers from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $64.00.

Ritchie Bros. Auctioneers Stock Down 1.5 %

The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $7.17 billion, a P/E ratio of 24.49, a PEG ratio of 5.50 and a beta of 1.01. The firm has a 50-day moving average price of $69.10 and a two-hundred day moving average price of $62.72.

Ritchie Bros. Auctioneers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, August 23rd. Ritchie Bros. Auctioneers’s dividend payout ratio is presently 40.91%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mariner LLC raised its stake in shares of Ritchie Bros. Auctioneers by 2.4% in the first quarter. Mariner LLC now owns 10,469 shares of the business services provider’s stock valued at $618,000 after purchasing an additional 248 shares in the last quarter. WoodTrust Financial Corp raised its stake in Ritchie Bros. Auctioneers by 1.0% during the second quarter. WoodTrust Financial Corp now owns 24,200 shares of the business services provider’s stock worth $1,575,000 after acquiring an additional 250 shares in the last quarter. Armstrong Henry H Associates Inc. lifted its holdings in shares of Ritchie Bros. Auctioneers by 4.9% during the first quarter. Armstrong Henry H Associates Inc. now owns 6,400 shares of the business services provider’s stock valued at $378,000 after acquiring an additional 300 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Ritchie Bros. Auctioneers by 1.4% during the first quarter. Park Avenue Securities LLC now owns 23,879 shares of the business services provider’s stock valued at $1,410,000 after acquiring an additional 322 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Ritchie Bros. Auctioneers by 41.2% during the second quarter. BNP Paribas Arbitrage SA now owns 1,114 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 325 shares during the period. 82.52% of the stock is currently owned by institutional investors and hedge funds.

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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