Zacks Investment Research lowered shares of Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America, Europe, Asia, Australia, Africa and the Middle East. The company is known for their innovative auction methods, attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world. “
Several other brokerages have also recently issued reports on RBA. National Bank Financial raised their target price on Ritchie Bros. Auctioneers from $30.50 to $35.00 and gave the stock an outperform rating in a research report on Wednesday, January 10th. Jefferies Group reissued a hold rating and issued a $30.00 target price on shares of Ritchie Bros. Auctioneers in a research report on Thursday, January 18th. TheStreet raised Ritchie Bros. Auctioneers from a c rating to a b- rating in a research report on Thursday, March 1st. Scotiabank raised their target price on Ritchie Bros. Auctioneers from $29.00 to $35.00 and gave the stock an outperform rating in a research report on Wednesday, January 10th. Finally, Barrington Research reissued a hold rating on shares of Ritchie Bros. Auctioneers in a research report on Tuesday, March 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $32.80.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Monday, February 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $178.80 million for the quarter, compared to analysts’ expectations of $171.97 million. Ritchie Bros. Auctioneers had a return on equity of 12.15% and a net margin of 12.29%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. equities analysts anticipate that Ritchie Bros. Auctioneers will post 1.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 16th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, February 15th. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is currently 98.55%.
Several hedge funds and other institutional investors have recently bought and sold shares of RBA. Zions Bancorporation bought a new position in shares of Ritchie Bros. Auctioneers in the third quarter worth about $127,000. Comerica Bank bought a new position in shares of Ritchie Bros. Auctioneers in the fourth quarter worth about $217,000. ETRADE Capital Management LLC bought a new position in shares of Ritchie Bros. Auctioneers in the third quarter worth about $218,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Ritchie Bros. Auctioneers in the third quarter worth about $287,000. Finally, Jane Street Group LLC bought a new stake in Ritchie Bros. Auctioneers during the 4th quarter valued at approximately $323,000.
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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.
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