Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) had its price objective dropped by equities research analysts at National Bank Financial from $68.00 to $55.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage presently has a “sector perform” rating on the business services provider’s stock. National Bank Financial’s price objective indicates a potential upside of 6.34% from the company’s previous close.
Several other research firms have also commented on RBA. National Bankshares dropped their target price on Ritchie Bros. Auctioneers from $68.00 to $55.00 and set a “sector perform” rating on the stock in a report on Tuesday. Barrington Research reissued a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Wednesday, November 24th. Zacks Investment Research lowered Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 27th. Royal Bank of Canada raised Ritchie Bros. Auctioneers from a “sector perform” rating to an “outperform” rating and dropped their target price for the company from $69.00 to $60.00 in a report on Tuesday. Finally, TD Securities raised Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and dropped their target price for the company from $69.00 to $64.00 in a report on Thursday, January 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.17.
Shares of Ritchie Bros. Auctioneers stock traded up $0.44 during trading hours on Tuesday, reaching $51.72. 174,146 shares of the company were exchanged, compared to its average volume of 597,035. Ritchie Bros. Auctioneers has a 1 year low of $48.65 and a 1 year high of $76.18. The firm has a fifty day moving average of $60.46. The company has a current ratio of 1.21, a quick ratio of 1.12 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 4.33 and a beta of 1.13.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Wednesday, February 16th. The business services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.23). Ritchie Bros. Auctioneers had a return on equity of 18.57% and a net margin of 11.81%. During the same period in the previous year, the business posted $0.49 EPS. As a group, sell-side analysts forecast that Ritchie Bros. Auctioneers will post 1.58 earnings per share for the current year.
In related news, insider James J. Jeter sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 21st. The shares were sold at an average price of $60.99, for a total value of $121,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Matthew Ackley sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, December 8th. The shares were sold at an average price of $70.97, for a total transaction of $106,455.00. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in Ritchie Bros. Auctioneers in the second quarter valued at about $27,000. Manchester Capital Management LLC lifted its position in Ritchie Bros. Auctioneers by 1,846.9% in the third quarter. Manchester Capital Management LLC now owns 623 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 591 shares during the period. Vontobel Holding Ltd. acquired a new stake in Ritchie Bros. Auctioneers in the third quarter valued at about $42,000. Carroll Financial Associates Inc. lifted its position in Ritchie Bros. Auctioneers by 70.1% in the fourth quarter. Carroll Financial Associates Inc. now owns 767 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 316 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in Ritchie Bros. Auctioneers in the third quarter valued at about $50,000. Hedge funds and other institutional investors own 82.13% 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.