Jefferies Group LLC Reiterates “Hold” Rating for Ritchie Bros. Auctioneers Incorporated (RBA)

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA)‘s stock had its “hold” rating restated by research analysts at Jefferies Group LLC in a research note issued to investors on Tuesday. They presently have a $26.00 price objective on the business services provider’s stock, down from their prior price objective of $29.00. Jefferies Group LLC’s target price indicates a potential downside of 7.37% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Raymond James Financial, Inc. decreased their price target on Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating for the company in a research note on Tuesday, July 11th. National Bank Financial restated a “sector perform under weight” rating on shares of Ritchie Bros. Auctioneers in a research note on Thursday, June 29th. TD Securities decreased their price target on Ritchie Bros. Auctioneers from $28.00 to $27.00 and set a “reduce” rating for the company in a research note on Monday, July 10th. BidaskClub upgraded Ritchie Bros. Auctioneers from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Scotiabank raised their price target on Ritchie Bros. Auctioneers from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $30.67.

Shares of Ritchie Bros. Auctioneers (NYSE RBA) opened at 28.07 on Tuesday. The company has a 50 day moving average price of $29.97 and a 200 day moving average price of $30.06. Ritchie Bros. Auctioneers has a 52 week low of $26.68 and a 52 week high of $39.96. The company has a market cap of $3.01 billion, a PE ratio of 61.15 and a beta of 0.57.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. Ritchie Bros. Auctioneers had a return on equity of 14.72% and a net margin of 8.96%. The business had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. During the same quarter last year, the firm earned $0.37 EPS. Ritchie Bros. Auctioneers’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Ritchie Bros. Auctioneers will post $0.84 earnings per share for the current year.

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In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll bought 1,000 shares of Ritchie Bros. Auctioneers stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $28.59 per share, for a total transaction of $28,590.00. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $28,590. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.39% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Lloyds Banking Group plc boosted its stake in shares of Ritchie Bros. Auctioneers by 59.1% during the 2nd quarter. Lloyds Banking Group plc now owns 4,456 shares of the business services provider’s stock worth $128,000 after acquiring an additional 1,656 shares during the period. FNY Managed Accounts LLC bought a new position in shares of Ritchie Bros. Auctioneers during the 1st quarter worth approximately $176,000. First Bank & Trust boosted its stake in shares of Ritchie Bros. Auctioneers by 3.8% during the 2nd quarter. First Bank & Trust now owns 5,387 shares of the business services provider’s stock worth $155,000 after acquiring an additional 196 shares during the period. Forward Management LLC boosted its stake in shares of Ritchie Bros. Auctioneers by 11.0% during the 2nd quarter. Forward Management LLC now owns 6,137 shares of the business services provider’s stock worth $176,000 after acquiring an additional 609 shares during the period. Finally, Comerica Bank boosted its stake in shares of Ritchie Bros. Auctioneers by 0.7% during the 1st quarter. Comerica Bank now owns 6,737 shares of the business services provider’s stock worth $221,000 after acquiring an additional 44 shares during the period. Institutional investors own 96.01% of the company’s stock.

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.

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

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