Jefferies Group Reaffirms Hold Rating for Ritchie Bros. Auctioneers (RBA)

Jefferies Group reiterated their hold rating on shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) in a research report released on Thursday morning. They currently have a $30.00 price target on the business services provider’s stock.

Other analysts have also recently issued reports about the stock. Scotiabank upped their price target on shares of Ritchie Bros. Auctioneers from $29.00 to $35.00 and gave the stock an outperform rating in a research report on Wednesday, January 10th. TD Securities upped their price target on shares of Ritchie Bros. Auctioneers from $22.00 to $25.00 and gave the stock a reduce rating in a research report on Wednesday, January 10th. National Bank Financial upped their price target on shares of Ritchie Bros. Auctioneers from $30.50 to $35.00 and gave the stock an outperform rating in a research report on Wednesday, January 10th. Raymond James Financial decreased their price target on shares of Ritchie Bros. Auctioneers from $29.50 to $29.00 and set a market perform rating for the company in a research report on Tuesday, October 10th. Finally, Oppenheimer reaffirmed a hold rating on shares of Ritchie Bros. Auctioneers in a research report on Monday, November 13th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $30.44.

Shares of Ritchie Bros. Auctioneers (NYSE:RBA) opened at $31.41 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. Ritchie Bros. Auctioneers has a 12 month low of $24.08 and a 12 month high of $35.21. The stock has a market cap of $3,366.68, a price-to-earnings ratio of 51.49, a PEG ratio of 3.38 and a beta of 0.63.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). Ritchie Bros. Auctioneers had a return on equity of 13.04% and a net margin of 11.43%. The business had revenue of $141.05 million for the quarter, compared to analysts’ expectations of $139.96 million. During the same period last year, the company posted $0.20 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. sell-side analysts predict that Ritchie Bros. Auctioneers will post 0.86 earnings per share for the current fiscal year.

In other Ritchie Bros. Auctioneers news, insider Karl William Werner sold 5,400 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $28.68, for a total value of $154,872.00. Following the completion of the transaction, the insider now directly owns 5,400 shares of the company’s stock, valued at approximately $154,872. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.

A number of large investors have recently bought and sold shares of RBA. Legal & General Group Plc boosted its position in Ritchie Bros. Auctioneers by 32.7% in the 2nd quarter. Legal & General Group Plc now owns 14,970 shares of the business services provider’s stock valued at $430,000 after buying an additional 3,693 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Ritchie Bros. Auctioneers in the 2nd quarter valued at about $6,725,000. Stephens Inc. AR boosted its position in Ritchie Bros. Auctioneers by 8.4% in the 2nd quarter. Stephens Inc. AR now owns 8,296 shares of the business services provider’s stock valued at $238,000 after buying an additional 642 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Ritchie Bros. Auctioneers by 148.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,256,159 shares of the business services provider’s stock valued at $35,631,000 after buying an additional 750,038 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Ritchie Bros. Auctioneers by 47.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 38,247 shares of the business services provider’s stock valued at $1,099,000 after buying an additional 12,337 shares during the last quarter. 96.61% of the stock is owned by institutional investors.

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Ritchie Bros. Auctioneers Company Profile

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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