Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Stock Rating Reaffirmed by National Bank Financial

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA)‘s stock had its “sector perform under weight” rating reaffirmed by equities researchers at National Bank Financial in a note issued to investors on Thursday, June 29th.

A number of other equities research analysts have also weighed in on RBA. Royal Bank Of Canada set a $41.00 target price on shares of Ritchie Bros. Auctioneers and gave the company a “buy” rating in a research note on Saturday, April 22nd. Jefferies Group LLC reissued a “hold” rating and set a $29.00 price objective on shares of Ritchie Bros. Auctioneers in a research note on Friday, May 5th. TheStreet lowered shares of Ritchie Bros. Auctioneers from a “b” rating to a “c+” rating in a research note on Monday, May 8th. BidaskClub lowered shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, TD Securities reissued a “sell” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, April 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $33.75.

Ritchie Bros. Auctioneers (NYSE RBA) traded down 0.28% during trading on Thursday, hitting $28.46. 717,520 shares of the stock were exchanged. The stock has a market cap of $3.04 billion, a P/E ratio of 41.85 and a beta of 0.55. The stock has a 50 day moving average of $28.90 and a 200-day moving average of $31.13. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96.

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Several hedge funds and other institutional investors have recently modified their holdings of RBA. Mackenzie Financial Corp increased its position in shares of Ritchie Bros. Auctioneers by 2,029.1% in the first quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock valued at $15,808,000 after buying an additional 457,917 shares in the last quarter. Comerica Bank increased its position in shares of Ritchie Bros. Auctioneers by 10.9% in the fourth quarter. Comerica Bank now owns 6,693 shares of the business services provider’s stock valued at $220,000 after buying an additional 659 shares in the last quarter. RMB Capital Management LLC increased its position in shares of Ritchie Bros. Auctioneers by 52.1% in the fourth quarter. RMB Capital Management LLC now owns 319,194 shares of the business services provider’s stock valued at $10,853,000 after buying an additional 109,336 shares in the last quarter. CGOV Asset Management increased its position in shares of Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock valued at $304,466,000 after buying an additional 4,175,593 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Ritchie Bros. Auctioneers during the fourth quarter valued at about $53,619,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

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.

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

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