Ritchie Bros. Auctioneers Inc. (RBA) Shares Gap Up to $27.96
Ritchie Bros. Auctioneers Inc. (NYSE:RBA)’s share price gapped up prior to trading on Friday . The stock had previously closed at $27.87, but opened at $27.96. Ritchie Bros. Auctioneers shares last traded at $28.24, with a volume of 192,125 shares trading hands.
Several equities analysts have commented on RBA shares. Macquarie started coverage on Ritchie Bros. Auctioneers in a research report on Thursday. They issued an “outperform” rating and a $34.00 target price for the company. OTR Global reiterated a “negative” rating on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 22nd. TD Securities reiterated a “reduce” rating and issued a $26.00 target price on shares of Ritchie Bros. Auctioneers in a research report on Saturday, August 13th. Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “buy” rating to a “sell” rating in a research report on Wednesday, July 13th. Finally, Jefferies Group dropped their target price on Ritchie Bros. Auctioneers from $35.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, August 10th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $29.55.
The company has a 50 day moving average of $31.38 and a 200-day moving average of $29.49. The firm has a market capitalization of $3.03 billion and a price-to-earnings ratio of 22.29.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its earnings results on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.07. During the same period last year, the firm posted $0.43 EPS. The company earned $158.80 million during the quarter, compared to analyst estimates of $160.96 million. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that Ritchie Bros. Auctioneers Inc. will post $1.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 31st. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16.
An institutional investor recently raised its position in Ritchie Bros. Auctioneers stock. Dimensional Fund Advisors LP boosted its position in Ritchie Bros. Auctioneers Inc. (NYSE:RBA) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,028 shares of the company’s stock after buying an additional 2,500 shares during the period. Dimensional Fund Advisors LP owned approximately 0.07% of Ritchie Bros. Auctioneers worth $1,712,000 at the end of the most recent quarter.
Ritchie Bros. Auctioneers Incorporated is a holding company. The Company is an auctioneer of industrial equipment. The Company is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.