Robert W. Baird reiterated their buy rating on shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) in a research note issued to investors on Tuesday. Robert W. Baird currently has a $33.00 target price on the business services provider’s stock.

A number of other analysts have also recently weighed in on the stock. Scotiabank set a $34.00 price target on shares of Ritchie Bros. Auctioneers and gave the stock an outperform rating in a research report on Tuesday. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a sell rating to a hold rating in a research report on Saturday, August 12th. National Bank Financial decreased their price target on shares of Ritchie Bros. Auctioneers from $31.50 to $30.00 and set a sector perform rating for the company in a research report on Wednesday, August 9th. TD Securities decreased their price target on shares of Ritchie Bros. Auctioneers from $27.00 to $25.00 and set a reduce rating for the company in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $40.00 price target on shares of Ritchie Bros. Auctioneers and gave the stock a buy rating in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $32.82.

Ritchie Bros. Auctioneers (RBA) opened at 30.42 on Tuesday. The company has a 50-day moving average price of $28.72 and a 200-day moving average price of $30.29. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 65.83 and a beta of 0.57. Ritchie Bros. Auctioneers has a 12-month low of $26.68 and a 12-month high of $39.96.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Ritchie Bros. Auctioneers had a net margin of 8.96% and a return on equity of 14.72%. The firm had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $161.85 million. During the same period in the prior year, the company earned $0.37 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Ritchie Bros. Auctioneers will post $0.82 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.24%. Ritchie Bros. Auctioneers’s payout ratio is currently 144.68%.

In other news, CFO Sharon Ruth Driscoll acquired 1,375 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was bought at an average cost of $29.77 per share, with a total value of $40,933.75. Following the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at approximately $29,770. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Morgan Stanley lifted its position in shares of Ritchie Bros. Auctioneers by 1.7% during the first quarter. Morgan Stanley now owns 451,080 shares of the business services provider’s stock worth $14,841,000 after purchasing an additional 7,478 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Ritchie Bros. Auctioneers by 2,029.1% during the first quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock worth $15,808,000 after purchasing an additional 457,917 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Ritchie Bros. Auctioneers by 8.6% during the first quarter. Bank of America Corp DE now owns 871,136 shares of the business services provider’s stock worth $28,661,000 after purchasing an additional 69,062 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Ritchie Bros. Auctioneers by 3.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 116,601 shares of the business services provider’s stock worth $3,351,000 after purchasing an additional 3,601 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ritchie Bros. Auctioneers by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 103,194 shares of the business services provider’s stock worth $3,395,000 after purchasing an additional 1,515 shares during the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.

Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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