Ritchie Bros Auctioneers Inc (NYSE:RBA) (TSE:RBA)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Group LLC in a research note issued to investors on Friday, May 5th. They currently have a $29.00 price target on the business services provider’s stock. Jefferies Group LLC’s target price points to a potential downside of 7.17% from the company’s current price.
Several other brokerages have also weighed in on RBA. Bank of America Corp lowered Ritchie Bros Auctioneers from a “neutral” rating to an “underperform” rating in a research report on Friday, January 13th. BMO Capital Markets cut their target price on Ritchie Bros Auctioneers from $38.00 to $33.00 and set a “market perform” rating on the stock in a research report on Friday, January 13th. William Blair reaffirmed an “outperform” rating on shares of Ritchie Bros Auctioneers in a research report on Monday, April 24th. Royal Bank of Canada set a $41.00 price target on Ritchie Bros Auctioneers and gave the company a “buy” rating in a report on Saturday, April 22nd. Finally, CIBC reiterated an “outperform” rating and issued a $36.00 price target on shares of Ritchie Bros Auctioneers in a report on Thursday, April 13th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $35.96.
Ritchie Bros Auctioneers (NYSE:RBA) last issued its earnings results on Tuesday, February 21st. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $146.80 million for the quarter, compared to analyst estimates of $133.92 million. Ritchie Bros Auctioneers had a return on equity of 17.38% and a net margin of 19.91%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Tuesday, May 23rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.68 dividend on an annualized basis and a yield of 2.18%. Ritchie Bros Auctioneers’s dividend payout ratio is currently 66.67%.
Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Ritchie Bros Auctioneers during the fourth quarter worth about $18,305,000. First Bank & Trust acquired a new position in shares of Ritchie Bros Auctioneers during the fourth quarter worth about $151,000. Grandeur Peak Global Advisors LLC boosted its position in shares of Ritchie Bros Auctioneers by 15.4% in the third quarter. Grandeur Peak Global Advisors LLC now owns 348,525 shares of the business services provider’s stock worth $12,223,000 after buying an additional 46,575 shares in the last quarter. Bell State Bank & Trust boosted its position in shares of Ritchie Bros Auctioneers by 5.2% in the third quarter. Bell State Bank & Trust now owns 10,535 shares of the business services provider’s stock worth $369,000 after buying an additional 525 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Ritchie Bros Auctioneers by 3.6% in the third quarter. 1832 Asset Management L.P. now owns 710,530 shares of the business services provider’s stock worth $24,910,000 after buying an additional 24,876 shares in the last quarter. 89.55% of the stock is currently owned by hedge funds and other institutional investors.
Ritchie Bros Auctioneers Company Profile
Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.
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