Jeroen Laurentius Johanus Rijk Sells 6,600 Shares of Ritchie Bros. Auctioneers Inc. (RBA) Stock
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $34.00, for a total value of $224,400.00. Following the transaction, the vice president now directly owns 6,600 shares in the company, valued at approximately $224,400. The transaction was disclosed in a filing with the SEC, which is available at this link.
Ritchie Bros. Auctioneers Inc. (NYSE:RBA) opened at 35.34 on Friday. Ritchie Bros. Auctioneers Inc. has a 1-year low of $21.03 and a 1-year high of $36.79. The company’s 50-day moving average price is $31.63 and its 200 day moving average price is $30.87. The firm has a market capitalization of $3.77 billion, a PE ratio of 27.67 and a beta of 0.60.
Ritchie Bros. Auctioneers (NYSE:RBA) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.07. Ritchie Bros. Auctioneers had a return on equity of 16.55% and a net margin of 25.39%. The business had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $160.96 million. During the same period in the prior year, the company earned $0.43 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Ritchie Bros. Auctioneers Inc. will post $1.17 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 2nd will be given a $0.17 dividend. This is a positive change from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, August 31st. Ritchie Bros. Auctioneers’s dividend payout ratio (DPR) is 53.97%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Ritchie Bros. Auctioneers during the second quarter valued at $60,930,000. FMR LLC bought a new position in Ritchie Bros. Auctioneers during the second quarter valued at approximately $58,892,000. Norges Bank bought a new position in Ritchie Bros. Auctioneers during the fourth quarter valued at approximately $34,083,000. Emerald Acquisition Ltd. bought a new position in Ritchie Bros. Auctioneers during the second quarter valued at approximately $24,612,000. Finally, 1832 Asset Management L.P. bought a new position in Ritchie Bros. Auctioneers during the first quarter valued at approximately $26,028,000. 86.29% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. KeyCorp upgraded Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 price objective for the company in a research note on Monday, August 15th. They noted that the move was a valuation call. OTR Global reiterated a “negative” rating on shares of Ritchie Bros. Auctioneers in a research note on Friday, July 22nd. RBC Capital Markets reiterated an “outperform” rating on shares of Ritchie Bros. Auctioneers in a research note on Tuesday, August 30th. Zacks Investment Research cut Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Finally, Bank of America Corp. upgraded Ritchie Bros. Auctioneers from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Ritchie Bros. Auctioneers currently has an average rating of “Hold” and a consensus price target of $32.55.
Ritchie Bros. Auctioneers Company Profile
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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