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 traded.
Several brokerages have commented on RBA. KeyCorp upgraded shares of Ritchie Bros. Auctioneers from a “sector weight” rating to an “overweight” rating and set a $34.00 target price for the company in a report 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 report on Friday, July 22nd. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “hold” rating to a “sell” rating in a 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 for the company. in a report on Friday, July 15th. They noted that the move was a valuation call. Finally, Macquarie began coverage on shares of Ritchie Bros. Auctioneers in a report on Thursday. They issued an “outperform” rating and a $34.00 target price for the company. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Ritchie Bros. Auctioneers currently has a consensus rating of “Hold” and a consensus target price of $29.55.
The stock’s 50 day moving average price is $31.38 and its 200-day moving average price is $29.49. The firm has a market capitalization of $3.03 billion and a PE ratio of 22.29.
Ritchie Bros. Auctioneers (NYSE:RBA) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.37 earnings per share 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. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share. On average, equities analysts predict that Ritchie Bros. Auctioneers Inc. will post $1.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be paid a $0.17 dividend. The ex-dividend date is Wednesday, August 31st. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.39%.
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 Form 13F filing with the SEC. 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 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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