Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Given Average Rating of “Hold” by Brokerages

Shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBAGet Rating) (TSE:RBA) have received an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $60.13.

RBA has been the subject of several analyst reports. OTR Global reaffirmed a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Wednesday, November 2nd. StockNews.com initiated coverage on shares of Ritchie Bros. Auctioneers in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Northcoast Research raised shares of Ritchie Bros. Auctioneers from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Monday, November 14th. National Bank Financial raised shares of Ritchie Bros. Auctioneers from an “underperform” rating to a “sector perform” rating in a research report on Monday, November 7th. Finally, National Bankshares raised shares of Ritchie Bros. Auctioneers from an “underperform” rating to a “sector perform” rating and cut their target price for the stock from $60.00 to $55.00 in a research report on Tuesday, November 8th.

Ritchie Bros. Auctioneers Trading Up 2.2 %

Shares of NYSE:RBA opened at $56.10 on Tuesday. The firm has a fifty day moving average of $61.37 and a two-hundred day moving average of $63.82. The firm has a market capitalization of $6.22 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 4.46 and a beta of 1.01. Ritchie Bros. Auctioneers has a 12-month low of $48.65 and a 12-month high of $73.18. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.51.

Ritchie Bros. Auctioneers (NYSE:RBAGet Rating) (TSE:RBA) last released its quarterly earnings data on Monday, November 7th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.14. Ritchie Bros. Auctioneers had a net margin of 18.49% and a return on equity of 25.52%. The business had revenue of $411.50 million during the quarter, compared to analyst estimates of $366.23 million. During the same quarter in the previous year, the business earned $0.44 EPS. Ritchie Bros. Auctioneers’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities analysts expect that Ritchie Bros. Auctioneers will post 1.76 EPS for the current fiscal year.

Ritchie Bros. Auctioneers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Wednesday, November 23rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.08 annualized dividend and a dividend yield of 1.93%. Ritchie Bros. Auctioneers’s payout ratio is 39.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Grandeur Peak Global Advisors LLC increased its holdings in shares of Ritchie Bros. Auctioneers by 2.9% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 514,597 shares of the business services provider’s stock worth $32,152,000 after purchasing an additional 14,705 shares during the period. Captrust Financial Advisors increased its holdings in shares of Ritchie Bros. Auctioneers by 7.4% during the 3rd quarter. Captrust Financial Advisors now owns 13,243 shares of the business services provider’s stock worth $827,000 after purchasing an additional 912 shares during the period. Advisory Research Inc. bought a new stake in Ritchie Bros. Auctioneers in the third quarter valued at about $237,000. Balyasny Asset Management LLC increased its stake in Ritchie Bros. Auctioneers by 72.7% in the third quarter. Balyasny Asset Management LLC now owns 73,077 shares of the business services provider’s stock valued at $4,566,000 after acquiring an additional 30,761 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in Ritchie Bros. Auctioneers in the third quarter valued at about $260,000. Institutional investors own 82.52% 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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