Oppenheimer & Co. Inc. bought a new stake in Ritchie Bros. Auctioneers Inc. (NYSE:RBA) during the second quarter, Holdings Channel reports. The institutional investor bought 6,500 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors also recently added to or reduced their stakes in RBA. AGF Investments Inc. increased its stake in Ritchie Bros. Auctioneers by 121.1% in the second quarter. AGF Investments Inc. now owns 2,947 shares of the company’s stock worth $100,000 after buying an additional 1,614 shares during the last quarter. FineMark National Bank & Trust increased its stake in Ritchie Bros. Auctioneers by 2.4% in the second quarter. FineMark National Bank & Trust now owns 4,158 shares of the company’s stock worth $141,000 after buying an additional 97 shares during the last quarter. Diversified Trust Co acquired a new stake in Ritchie Bros. Auctioneers during the second quarter worth about $223,000. M&T Bank Corp acquired a new stake in Ritchie Bros. Auctioneers during the first quarter worth about $225,000. Finally, World Asset Management Inc acquired a new stake in Ritchie Bros. Auctioneers during the second quarter worth about $225,000. 86.29% of the stock is currently owned by hedge funds and other institutional investors.

Ritchie Bros. Auctioneers Inc. (NYSE:RBA) traded down 1.02% during mid-day trading on Friday, reaching $34.98. 156,086 shares of the company were exchanged. Ritchie Bros. Auctioneers Inc. has a 1-year low of $21.03 and a 1-year high of $36.79. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 27.39 and a beta of 0.60. The stock’s 50-day moving average price is $31.63 and its 200-day moving average price is $30.87.

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 net margin of 25.39% and a return on equity of 16.55%. The business had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $160.96 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ritchie Bros. Auctioneers Inc. will post $1.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.17 per share. This is an increase from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, August 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.92%. Ritchie Bros. Auctioneers’s payout ratio is currently 53.97%.

A number of equities research analysts recently issued reports on the stock. KeyCorp raised shares of Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 price target on the stock in a research note on Monday, August 15th. They noted that the move was a valuation call. Jefferies Group cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research report on Friday, July 15th. They noted that the move was a valuation call. Royal Bank Of Canada boosted their price objective on shares of Ritchie Bros. Auctioneers from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 31st. BMO Capital Markets reiterated a “market perform” rating and set a $38.00 price objective (up previously from $29.00) on shares of Ritchie Bros. Auctioneers in a research report on Thursday, September 1st. Finally, Robert W. Baird reiterated an “outperform” rating and set a $39.00 price objective (up previously from $34.00) on shares of Ritchie Bros. Auctioneers in a research report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $32.55.

In other news, VP Jeroen Laurentius Johanus Rijk sold 6,600 shares of Ritchie Bros. Auctioneers stock in a transaction on Friday, September 16th. The stock was sold at an average price of $34.00, for a total transaction of $224,400.00. Following the transaction, the vice president now owns 6,600 shares in the company, valued at $224,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.

About Ritchie Bros. Auctioneers

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.

5 Day Chart for NYSE:RBA

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