Ritchie Bros Auctioneers Inc (RBA) Receives $38.38 Average Target Price from Analysts
Ritchie Bros Auctioneers Inc (NYSE:RBA) (TSE:RBA) has received a consensus rating of “Hold” from the twelve brokerages that are covering the stock. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $38.38.
Several brokerages recently weighed in on RBA. TD Securities reaffirmed a “reduce” rating and issued a $33.00 price target on shares of Ritchie Bros Auctioneers in a research report on Wednesday, December 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Ritchie Bros Auctioneers in a research report on Friday, December 16th. Bank of America Corp cut shares of Ritchie Bros Auctioneers from a “neutral” rating to an “underperform” rating in a research report on Friday, January 13th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $35.00 price target (down previously from $42.00) on shares of Ritchie Bros Auctioneers in a research report on Tuesday, December 27th. Finally, Zacks Investment Research cut shares of Ritchie Bros Auctioneers from a “buy” rating to a “hold” rating in a research report on Thursday, December 1st.
A number of large investors have recently bought and sold shares of RBA. Victory Capital Management Inc. purchased a new stake in Ritchie Bros Auctioneers during the third quarter valued at approximately $122,557,000. CGOV Asset Management purchased a new stake in Ritchie Bros Auctioneers during the third quarter valued at approximately $133,822,000. Norges Bank purchased a new stake in Ritchie Bros Auctioneers during the fourth quarter valued at approximately $53,619,000. Columbia Wanger Asset Management LLC purchased a new stake in Ritchie Bros Auctioneers during the fourth quarter valued at approximately $39,406,000. Finally, Eagle Asset Management Inc. raised its stake in Ritchie Bros Auctioneers by 706.8% in the third quarter. Eagle Asset Management Inc. now owns 1,039,945 shares of the company’s stock valued at $36,470,000 after buying an additional 911,050 shares during the period. Hedge funds and other institutional investors own 89.55% of the company’s stock.
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Ritchie Bros Auctioneers (NYSE:RBA) opened at 31.40 on Tuesday. The firm has a market cap of $3.35 billion, a P/E ratio of 36.94 and a beta of 0.62. Ritchie Bros Auctioneers has a 12 month low of $24.99 and a 12 month high of $39.96. The firm’s 50-day moving average price is $32.10 and its 200-day moving average price is $34.56.
Ritchie Bros Auctioneers (NYSE:RBA) last released its quarterly earnings data on Tuesday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The company had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $133.92 million. Ritchie Bros Auctioneers had a net margin of 19.91% and a return on equity of 17.38%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, equities research analysts expect that Ritchie Bros Auctioneers will post $1.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 10th were paid a $0.17 dividend. The ex-dividend date was Wednesday, February 8th. This represents a $0.68 annualized dividend and a yield of 2.17%. Ritchie Bros Auctioneers’s dividend payout ratio (DPR) is 66.67%.
About Ritchie Bros Auctioneers
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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