Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) Receives Consensus Target Price of $60.17 from Analysts
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA – Get Rating) (TSE:RBA) has been given a consensus rating of “Hold” by the eleven analysts who currently cover the company, Marketbeat Ratings reports. Two research analysts rated the stock with a sell recommendation, six gave a hold recommendation and two gave the company a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the past year is $60.17.
A number of research companies have recently published reports on RBA. National Bank Financial has lowered its price target on shares of Ritchie Bros. Auctioneers from $68.00 to $55.00 and set an “industry performance” rating on the stock in a Tuesday, Feb. 22 research note. StockNews.com has begun covering Ritchie Bros. shares. Auctioneers in a research note Thursday, March 31. They issued a “holding” rating on the stock. Robert W. Baird has lowered the target price for Ritchie Bros. shares. Auctioneers from $82.00 to $70.00 in a research note from Tuesday, February 22. National Bankshares lowered its price target on shares of Ritchie Bros. Auctioneers from $68.00 to $55.00 and set an “industry performance” rating on the stock in a Tuesday, Feb. 22 research note. Finally, the Royal Bank of Canada took the shares of Ritchie Bros. Auctioneers from an “sector performance” rating to an “outperform” rating and lowered its target price for the stock from $69.00 to $60.00 in a Tuesday, February 22 research note.
In related news, CEO Ann Fandozzi acquired 9,560 shares of Ritchie Bros. stock. Auctioneers in a transaction that took place on Monday, February 28. The shares were purchased at an average cost of $52.25 per share, for a total transaction of $499,510.00. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 0.71% of the shares are currently held by insiders.
A number of large investors have recently changed their holdings in the company. Massachusetts Financial Services Co. MA increased its stake in Ritchie Bros. Auctioneers by 0.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 12,198,181 shares of the business services provider worth $752,139,000 after purchasing an additional 99,917 shares during the period. Janus Henderson Group PLC has increased its stake in shares of Ritchie Bros. Auctioneers by 1.2% during the third quarter. Janus Henderson Group PLC now owns 6,393,782 shares of the business services provider worth $394,241,000 after purchasing an additional 77,438 shares during the period. Riverbridge Partners LLC has increased its stake in shares of Ritchie Bros. Auctioneers by 1.0% during the fourth quarter. Riverbridge Partners LLC now owns 4,691,463 shares of the business services provider worth $287,164,000 after purchasing an additional 44,662 shares during the period. Invesco Ltd. increased its stake in shares of Ritchie Bros. Auctioneers by 8.1% during the third quarter. Invesco Ltd. now owns 4,392,942 shares of the business services provider worth $270,867,000 after purchasing an additional 329,904 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its stake in shares of Ritchie Bros. Auctioneers by 2.8% during the third quarter. ArrowMark Colorado Holdings LLC now owns 4,167,882 shares of the business services provider worth $256,992,000 after purchasing an additional 112,742 shares during the period. Institutional investors hold 79.91% of the company’s shares.
Shares of NYSE:RBA traded down $1.45 during Monday’s trading, hitting $55.61. 323,521 shares of the stock have traded, compared to its average volume of 272,727. The company has a quick ratio of 1.12, a current ratio of 1.30 and a leverage ratio of 1.62. The company has a market capitalization of $6.16 billion, a price/earnings ratio of 40.89, a P/E/G ratio of 4.89 and a beta of 1.15. The company has a fifty-day moving average price of $57.34 and a two-hundred-day moving average price of $62.09. Ritchie Bros. Auctioneers has a 52-week low of $48.65 and a 52-week high of $76.18.
Ritchie Bros. Auctioneers (NYSE:RBA – Get Rating) (TSE:RBA) last released quarterly results on Thursday, February 17. The business services provider reported earnings per share (EPS) of $0.27 for the quarter, missing analyst consensus estimates of $0.49 per ($0.22). Ritchie Bros. Auctioneers posted a net margin of 10.72% and a return on equity of 16.06%. The company posted revenue of $359.37 million in the quarter, versus analyst estimates of $391.89 million. During the same period a year earlier, the company posted EPS of $0.49. On average, equity research analysts expect Ritchie Bros. Auctioneers will post an EPS of 1.62 for the current fiscal year.
About Ritchie Bros. auctioneers (Get an evaluation)
Ritchie Bros. Auctioneers, Inc is an industrial auctioneer that sells 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 includes on-site live auctions, online auctions and marketplaces, and brokerage service.
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