Ritchie Bros. Auctioneers (NYSE:RBA) Earns Market Perform Rating from Raymond James

Raymond James reiterated their market perform rating on shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) in a research report released on Monday, BayStreet.CA reports. Raymond James currently has a $34.50 price objective on the business services provider’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada increased their price objective on shares of NVIDIA to $200.00 and gave the company an outperform rating in a research report on Monday, May 13th. TD Securities lowered their price objective on shares of Ritchie Bros. Auctioneers from $30.00 to $28.00 and set a reduce rating for the company in a research report on Monday, May 13th. ValuEngine downgraded shares of Woodward, Inc.Common Stock from a buy rating to a hold rating in a research note on Tuesday, April 9th. Zacks Investment Research raised shares of General Moly from a sell rating to a hold rating in a research note on Thursday, July 11th. Finally, National Bank Financial downgraded shares of WestJet Airlines from a reduce rating to a tender rating and increased their target price for the company from C$22.00 to C$31.00 in a research note on Monday, May 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $36.28.

RBA stock opened at $36.20 on Monday. Ritchie Bros. Auctioneers has a 52 week low of $30.76 and a 52 week high of $38.77. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.83. The company’s fifty day simple moving average is $34.40. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 4.29 and a beta of 0.74.



Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). Ritchie Bros. Auctioneers had a net margin of 10.10% and a return on equity of 14.47%. The business had revenue of $303.40 million for the quarter, compared to the consensus estimate of $268.69 million. During the same quarter last year, the business earned $0.16 EPS. Ritchie Bros. Auctioneers’s revenue for the quarter was up 16.6% compared to the same quarter last year. Research analysts anticipate that Ritchie Bros. Auctioneers will post 1.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Tuesday, May 28th. Ritchie Bros. Auctioneers’s dividend payout ratio is currently 66.67%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Brand Asset Management Group Inc. purchased a new stake in shares of Ritchie Bros. Auctioneers in the first quarter valued at $54,000. Manchester Capital Management LLC purchased a new stake in shares of Ritchie Bros. Auctioneers in the first quarter valued at $34,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of Ritchie Bros. Auctioneers in the first quarter valued at $41,000. Bremer Bank National Association purchased a new position in Ritchie Bros. Auctioneers in the 1st quarter worth about $61,000. Finally, Icon Wealth Partners LLC purchased a new position in Ritchie Bros. Auctioneers in the 1st quarter worth about $66,000. 90.13% of the stock is currently owned by institutional investors and hedge funds.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved live on site auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets, as well as construction and heavy machinery.

See Also: Cost of Capital

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

Receive News & Ratings for Ritchie Bros. Auctioneers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ritchie Bros. Auctioneers and related companies with MarketBeat.com's FREE daily email newsletter.