Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Director Acquires $79,654.65 in Stock

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) Director Robert George Elton acquired 1,471 shares of Ritchie Bros. Auctioneers stock in a transaction dated Thursday, May 18th. The stock was bought at an average price of $54.15 per share, for a total transaction of $79,654.65. Following the completion of the purchase, the director now owns 1,471 shares of the company’s stock, valued at approximately $79,654.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ritchie Bros. Auctioneers Price Performance

Shares of RBA opened at $55.97 on Friday. Ritchie Bros. Auctioneers Incorporated has a fifty-two week low of $48.72 and a fifty-two week high of $72.73. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 57.11, a price-to-earnings-growth ratio of 3.31 and a beta of 0.89. The firm has a 50-day simple moving average of $55.91 and a 200-day simple moving average of $57.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.30.

Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last announced its earnings results on Tuesday, February 21st. The business services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. Ritchie Bros. Auctioneers had a net margin of 6.13% and a return on equity of 5.25%. The business had revenue of $443.86 million during the quarter, compared to the consensus estimate of $430.21 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post 2.34 earnings per share for the current year.

Ritchie Bros. Auctioneers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, May 26th. This represents a $1.08 annualized dividend and a dividend yield of 1.93%. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 110.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RBA shares. Raymond James increased their target price on Ritchie Bros. Auctioneers from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, January 24th. OTR Global raised Ritchie Bros. Auctioneers to a “positive” rating in a report on Thursday, May 4th. National Bank Financial raised Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a report on Thursday. National Bankshares raised Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a report on Thursday. Finally, Robert W. Baird dropped their target price on Ritchie Bros. Auctioneers from $66.00 to $64.00 in a report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ritchie Bros. Auctioneers presently has an average rating of “Moderate Buy” and a consensus target price of $61.57.

Institutional Investors Weigh In On Ritchie Bros. Auctioneers

Several hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management acquired a new stake in Ritchie Bros. Auctioneers in the fourth quarter valued at about $48,000. Quantbot Technologies LP acquired a new stake in Ritchie Bros. Auctioneers in the third quarter valued at about $124,000. Bank of Montreal Can lifted its position in Ritchie Bros. Auctioneers by 2.1% in the third quarter. Bank of Montreal Can now owns 1,684,031 shares of the business services provider’s stock valued at $107,752,000 after purchasing an additional 33,848 shares during the period. Eaton Vance Management lifted its position in Ritchie Bros. Auctioneers by 3.8% in the third quarter. Eaton Vance Management now owns 196,650 shares of the business services provider’s stock valued at $12,287,000 after purchasing an additional 7,163 shares during the period. Finally, Shell Asset Management Co. lifted its position in Ritchie Bros. Auctioneers by 8.2% in the third quarter. Shell Asset Management Co. now owns 41,871 shares of the business services provider’s stock valued at $2,631,000 after purchasing an additional 3,171 shares during the period. Institutional investors and hedge funds own 81.09% of the company’s stock.

Ritchie Bros. Auctioneers Company Profile

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Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.