Ritchie Bros. Auctioneers Inc. (RBA) Trading Up 18.7%
Shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) were up 18.7% on Tuesday . The stock traded as high as $34.86 and last traded at $34.28, with a volume of 3,083,662 shares changing hands. The stock had previously closed at $28.89.
Several analysts have weighed in on RBA shares. KeyCorp raised Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 price target on the stock in a report on Monday, August 15th. They noted that the move was a valuation call. OTR Global reaffirmed a “negative” rating on shares of Ritchie Bros. Auctioneers in a report on Friday, July 22nd. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Jefferies Group cut Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a report on Friday, July 15th. They noted that the move was a valuation call. Finally, Bank of America Corp. raised Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.86.
The stock has a market capitalization of $3.71 billion and a P/E ratio of 27.27. The company’s 50-day moving average price is $31.23 and its 200-day moving average price is $29.76.
Ritchie Bros. Auctioneers (NYSE:RBA) last posted its earnings results on Tuesday, August 9th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.07. The company earned $158.80 million during the quarter, compared to the consensus estimate of $160.96 million. During the same quarter in the prior year, the company earned $0.43 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Ritchie Bros. Auctioneers Inc. will post $1.16 earnings per share for the current 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 given a dividend of $0.17 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.95%. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16.
A hedge fund recently raised its stake in Ritchie Bros. Auctioneers stock. Dimensional Fund Advisors LP increased its position in shares of Ritchie Bros. Auctioneers Inc. (NYSE:RBA) by 3.6% during the fourth quarter, according to its most recent 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 approximately 0.07% of Ritchie Bros. Auctioneers worth $1,712,000 at the end of the most recent reporting period.
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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