Ritchie Bros. Auctioneers (RBA) Given a $39.00 Price Target at Scotiabank

Scotiabank set a $39.00 price target on Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) in a research report sent to investors on Monday. The firm currently has a hold rating on the business services provider’s stock.

Several other equities research analysts also recently weighed in on RBA. National Bank Financial downgraded shares of Ritchie Bros. Auctioneers from an outperform rating to a sector perform rating and lowered their target price for the company from $37.00 to $35.00 in a research note on Thursday, April 19th. Zacks Investment Research upgraded shares of Ritchie Bros. Auctioneers from a hold rating to a buy rating and set a $37.00 target price for the company in a research note on Wednesday, May 2nd. Barrington Research restated a hold rating on shares of Ritchie Bros. Auctioneers in a research note on Monday, May 7th. Royal Bank of Canada raised their target price on shares of Ritchie Bros. Auctioneers from $33.00 to $34.00 and gave the company a sector perform rating in a research note on Monday, May 14th. Finally, TD Securities raised their target price on shares of Ritchie Bros. Auctioneers from $25.00 to $26.00 and gave the company a reduce rating in a research note on Monday, May 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned 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 target price of $34.44.

RBA traded up $0.25 during trading on Monday, hitting $37.97. The stock had a trading volume of 16,316 shares, compared to its average volume of 357,277. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 46.80, a price-to-earnings-growth ratio of 2.84 and a beta of 0.67. Ritchie Bros. Auctioneers has a twelve month low of $24.08 and a twelve month high of $38.54. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.94.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its earnings results on Thursday, August 9th. The business services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The company had revenue of $206.80 million during the quarter, compared to the consensus estimate of $225.52 million. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. Ritchie Bros. Auctioneers’s revenue was up 24.4% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. sell-side analysts expect that Ritchie Bros. Auctioneers will post 1.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Wednesday, August 29th will be paid a dividend of $0.18 per share. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Tuesday, August 28th. Ritchie Bros. Auctioneers’s payout ratio is presently 83.95%.

In other news, insider Karl William Werner sold 5,746 shares of Ritchie Bros. Auctioneers stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $35.40, for a total transaction of $203,408.40. Following the completion of the sale, the insider now directly owns 3,173 shares in the company, valued at $112,324.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 11,107 shares of company stock valued at $392,708 over the last quarter. Insiders own 1.30% of the company’s stock.

Several large investors have recently bought and sold shares of RBA. Summit Trail Advisors LLC lifted its stake in shares of Ritchie Bros. Auctioneers by 2,814.2% during the first quarter. Summit Trail Advisors LLC now owns 125,514 shares of the business services provider’s stock worth $126,000 after buying an additional 121,207 shares during the period. Cutler Group LP lifted its stake in shares of Ritchie Bros. Auctioneers by 125.6% during the second quarter. Cutler Group LP now owns 4,688 shares of the business services provider’s stock worth $159,000 after buying an additional 22,971 shares during the period. Armstrong Henry H Associates Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers during the first quarter worth $203,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Ritchie Bros. Auctioneers during the second quarter worth $207,000. Finally, We Are One Seven LLC lifted its stake in shares of Ritchie Bros. Auctioneers by 533.7% during the first quarter. We Are One Seven LLC now owns 6,628 shares of the business services provider’s stock worth $209,000 after buying an additional 5,582 shares during the period. Institutional investors and hedge funds own 96.93% of the company’s stock.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved 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.

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