Ritchie Bros. Auctioneers (NYSE:RBA) Price Target Cut to $57.00 by Analysts at TD Securities

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) had its price target reduced by research analysts at TD Securities from $68.00 to $57.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the business services provider’s stock. TD Securities’ price objective indicates a potential upside of 10.68% from the company’s current price.

RBA has been the subject of a number of other reports. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a research report on Wednesday, February 3rd. National Bank Financial decreased their price target on Ritchie Bros. Auctioneers from $68.50 to $57.00 and set a “sector perform” rating for the company in a research report on Monday. Bank of America downgraded Ritchie Bros. Auctioneers from a “neutral” rating to an “underperform” rating and set a $55.00 target price for the company. in a research report on Thursday, February 4th. Raymond James decreased their target price on Ritchie Bros. Auctioneers from $75.00 to $60.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Scotiabank downgraded Ritchie Bros. Auctioneers from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, January 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.31.

Shares of NYSE:RBA opened at $51.50 on Monday. The business’s 50 day simple moving average is $61.06 and its two-hundred day simple moving average is $63.02. The firm has a market cap of $5.66 billion, a P/E ratio of 32.59, a PEG ratio of 4.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.26 and a current ratio of 1.34. Ritchie Bros. Auctioneers has a 52-week low of $25.92 and a 52-week high of $78.64.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its quarterly earnings results on Wednesday, February 17th. The business services provider reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.07). Ritchie Bros. Auctioneers had a net margin of 13.03% and a return on equity of 19.76%. On average, equities analysts forecast that Ritchie Bros. Auctioneers will post 1.73 earnings per share for the current fiscal year.

In other Ritchie Bros. Auctioneers news, CMO Matthew Ackley sold 2,000 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $71.71, for a total transaction of $143,420.00. Following the sale, the chief marketing officer now directly owns 14,072 shares of the company’s stock, valued at approximately $1,009,103.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James J. Jeter sold 4,300 shares of Ritchie Bros. Auctioneers stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $70.50, for a total value of $303,150.00. Following the sale, the insider now directly owns 15,990 shares in the company, valued at $1,127,295. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,695 shares of company stock worth $474,394. Company insiders own 0.83% of the company’s stock.

A number of institutional investors have recently bought and sold shares of RBA. FIL Ltd boosted its position in Ritchie Bros. Auctioneers by 61.6% during the 4th quarter. FIL Ltd now owns 1,860,199 shares of the business services provider’s stock valued at $129,303,000 after acquiring an additional 709,247 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Ritchie Bros. Auctioneers in the 3rd quarter worth approximately $31,203,000. Alyeska Investment Group L.P. bought a new stake in shares of Ritchie Bros. Auctioneers in the 4th quarter worth approximately $27,990,000. The Manufacturers Life Insurance Company boosted its position in shares of Ritchie Bros. Auctioneers by 210.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 572,438 shares of the business services provider’s stock worth $45,205,000 after purchasing an additional 387,940 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in shares of Ritchie Bros. Auctioneers by 23.5% in the 4th quarter. Fiera Capital Corp now owns 2,031,641 shares of the business services provider’s stock worth $140,789,000 after purchasing an additional 386,831 shares in the last quarter. 80.25% 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.

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