Ritchie Bros. Auctioneers Inc. (RBA) Trading Up 18.7%
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) was up 18.7% during trading on Tuesday . The company traded as high as $34.86 and last traded at $34.28, with a volume of 3,083,662 shares. The stock had previously closed at $28.89.
A number of equities research analysts have recently commented on RBA shares. KeyCorp upgraded shares of Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 price target for the company in a report on Monday, August 15th. They noted that the move was a valuation call. OTR Global reissued a “negative” rating on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 22nd. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Jefferies Group cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a research report on Friday, July 15th. They noted that the move was a valuation call. Finally, Macquarie assumed coverage on shares of Ritchie Bros. Auctioneers in a research report on Thursday, August 25th. They issued an “outperform” rating and a $34.00 target price on the stock. Four research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Ritchie Bros. Auctioneers has an average rating of “Hold” and an average price target of $29.55.
The stock’s 50 day moving average price is $31.21 and its 200-day moving average price is $29.62. The stock has a market cap of $3.81 billion and a P/E ratio of 27.96.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.07. The business earned $158.80 million during the quarter, compared to analysts’ expectations of $160.96 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Ritchie Bros. Auctioneers Inc. will post $1.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.68 annualized dividend and a yield of 1.90%. 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 increased its stake in Ritchie Bros. Auctioneers Inc. (NYSE:RBA) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,028 shares of the company’s stock after buying an additional 2,500 shares during the period. Dimensional Fund Advisors LP owned about 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.
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