Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,730,000 shares, a growth of 29.1% from the August 15th total of 1,340,000 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 452,600 shares, the short-interest ratio is currently 3.8 days.
Shares of NYSE:RBA traded down $0.36 during trading on Monday, reaching $61.21. The stock had a trading volume of 44,183 shares, compared to its average volume of 593,788. Ritchie Bros. Auctioneers has a 52 week low of $50.61 and a 52 week high of $78.64. The business’s 50-day moving average price is $61.18 and its 200 day moving average price is $60.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.16 and a quick ratio of 1.04. The stock has a market capitalization of $6.76 billion, a PE ratio of 37.07, a P/E/G ratio of 5.41 and a beta of 1.18.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Wednesday, August 4th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). Ritchie Bros. Auctioneers had a net margin of 12.70% and a return on equity of 18.95%. The firm had revenue of $396.36 million during the quarter, compared to the consensus estimate of $418.80 million. Analysts forecast that Ritchie Bros. Auctioneers will post 1.72 EPS for the current year.
Several brokerages have recently issued reports on RBA. National Bankshares lowered their price target on Ritchie Bros. Auctioneers from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, August 9th. William Blair downgraded Ritchie Bros. Auctioneers from an “outperform” rating to a “market perform” rating in a research report on Monday, August 9th. National Bank Financial lowered their price target on Ritchie Bros. Auctioneers from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, August 9th. Royal Bank of Canada began coverage on Ritchie Bros. Auctioneers in a research report on Monday. They issued a “sector perform” rating and a $65.00 price target on the stock. Finally, Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 14th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, Ritchie Bros. Auctioneers has an average rating of “Hold” and an average target price of $64.43.
In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll sold 14,795 shares of the stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $61.75, for a total transaction of $913,591.25. Following the transaction, the chief financial officer now directly owns 18,395 shares of the company’s stock, valued at $1,135,891.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James J. Jeter sold 7,250 shares of the stock in a transaction on Monday, August 16th. The stock was sold at an average price of $62.90, for a total transaction of $456,025.00. The disclosure for this sale can be found here. Insiders have sold 27,445 shares of company stock worth $1,701,154 over the last ninety days. 0.54% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its position in Ritchie Bros. Auctioneers by 17.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 151,235 shares of the business services provider’s stock worth $8,965,000 after purchasing an additional 22,573 shares during the last quarter. X Square Capital LLC bought a new position in Ritchie Bros. Auctioneers in the 2nd quarter worth approximately $1,115,000. Grandeur Peak Global Advisors LLC raised its position in Ritchie Bros. Auctioneers by 6.3% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 707,126 shares of the business services provider’s stock worth $41,918,000 after purchasing an additional 41,625 shares during the last quarter. Invesco Ltd. raised its position in Ritchie Bros. Auctioneers by 12.8% in the 2nd quarter. Invesco Ltd. now owns 4,063,038 shares of the business services provider’s stock worth $240,857,000 after purchasing an additional 460,892 shares during the last quarter. Finally, Maverick Capital Ltd. raised its position in Ritchie Bros. Auctioneers by 37.3% in the 2nd quarter. Maverick Capital Ltd. now owns 19,714 shares of the business services provider’s stock worth $1,169,000 after purchasing an additional 5,359 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.
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